OFI AnnualReport2010 (1.5MB)

Annual Report
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Level 8 Symphony House
Block D13 Pusat Dagangan Dana 1
Jalan PJU1A/46
47301 Petaling Jaya
Selangor Darul Ehsan
Tel : +603 7841 8000
Fax : +603 7841 8199
www.ofh.com.my
www.jacker.com.my
CONTENTS
02 Notice of Annual General Meeting
05 Chairmans Statement
07 Corporate Structure
08 Group Financial Highlights
10 Corporate Information
11 Profle of The Board of Directors
14 Statement of Corporate Governance
19 Statement on Internal Control
21 Audit Committee Report
26 Financial Statements
71 Analysis of Shareholdings
74 List of Properties
76 Other Information
Proxy Form
ANNUAL REPORT 2010
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NOTICE OF ANNUAL
GENERAL MEETING
1. To receive and adopt the statutory fnancial statements for the year ended 31 March 2010
together with the Directors and Auditors Reports thereon.
2. To declare the following fnal dividends for the year ended 31 March 2010 :
(a) Tax exempt dividend of RM0.02 per share amounting to RM1,200,000 on 60,000,000
ordinary shares of RM1.00 each ; and
(b) Franked dividend of RM0.02 per share less 25% tax at a total net amount of RM900,000 on
60,000,000 ordinary shares of RM1.00 each.

3. To approve the payment of directors fees of RM200,000/- for the year ended 31 March
2010.

4. To re-elect Mr Son Chen Chuan who retires in accordance with Article 75 of the Companys
Articles of Association.

5. To re-elect Mr Son Tong Eng who retires in accordance with Article 75 of the Companys Articles
of Association.
6. To re-elect Datuk Jeffery Ong Cheng Lock who retires in accordance with Article 75 of the
Companys Articles of Association.

7. To re-appoint Messrs PricewaterhouseCoopers as auditors for the ensuing year and to authorise
the Directors to fx their remuneration.
SPECIAL BUSINESS

To consider and, if thought ft, to pass the following Ordinary Resolutions :-

Ordinary Resolution No. 1

8. Authority to Allot Shares pursuant to Section 132D of the Companies Act, 1965

THAT pursuant to Section 132D of the Companies Act, 1965, and subject to the approval of the
relevant authorities, the Directors be and are hereby empowered to issue shares in the Company
from time to time and upon such terms and conditions and for such purposes as the Directors
may, in their absolute discretion, deem ft provided that the aggregate number of shares issued
pursuant to this resolution does not exceed 10% of the issued share capital of the Company
for the time being and that the Directors be and is empowered to obtain approval for the listing
of and quotation for the additional shares so issued on the Bursa Malaysia Securities Berhad
and that such authority shall continue in force until the conclusion of the next Annual General
Meeting.
NOTICE IS HEREBY GIVEN that the 14th Annual General Meeting of Oriental Food Industries
Holdings Berhad will be convened and held at Tiara Banquet Hall, Tiara Melaka Golf and
Country Club, Jalan Gapam, Bukit Katil, 75760 Melaka on Wednesday, 18 August 2010 at
2.00 p.m. to transact the following businesses :-
AGENDA
ORDINARY BUSINESS
(Resolution 1)
(Resolution 2)
(Resolution 3)
(Resolution 4)
(Resolution 5)
(Resolution 6)
(Resolution 7)
(Resolution 8)
ORIENTAL FOOD INDUSTRIES HOLDINGS BERHAD (389769-M)
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NOTICE OF ANNUAL
GENERAL MEETING
(Resolution 9)
Ordinary Resolution No. 2

9. Proposed Renewal Of Shareholders Mandate For Recurrent Related Party Transactions Of
A Revenue Or Trading Nature
THAT approval be given, pursuant to Paragraph 10.09 of the Main Market Listing Requirements
of the Bursa Malaysia Securities Berhad, for the Company and its subsidiaries (the Group) to
enter into recurrent related party transactions of a revenue or trading nature with the related
parties as described in the Circular to Shareholders dated 27 July 2010 (Circular) for the Groups
day-to-day operations, provided that such transactions are carried out in the normal course of
business, at arms length, on normal commercial terms and on terms not more favourable to the
related parties than those generally available to the public and are not to the detriment of the
minority shareholders of the Company; and that such approval shall continue to be in force until
the conclusion of the next Annual General Meeting or the expiration of the period within which
the next Annual General Meeting is required by law to be held or revoked/varied by resolution
passed by the shareholders in general meeting whichever is earlier; and that the Directors of the
Company be authorised to complete and do all such acts and things (including executing all such
documents as may be required by the relevant authorities) to give effect to the shareholders
mandate.

10. To transact any other ordinary business of which due notice shall have been given.
NOTICE OF DIVIDEND ENTITLEMENT
NOTICE IS ALSO HEREBY GIVEN THAT the following fnal dividends for the year ended 31 March 2010, if approved at
the 14th Annual General Meeting, will be paid on 17 September 2010 to all shareholders registered in the Record of
Depositors at the close of business at 5.00 p.m. on 20 August 2010 :-
(a) Tax exempt dividend of RM0.02 per share amounting to RM1,200,000 on 60,000,000 ordinary shares of RM1.00
each ; and
(b) Franked dividend of RM0.02 per share less 25% tax at a total net amount of RM900,000 on 60,000,000 ordinary
shares of RM1.00 each.
A Depositor shall qualify for entitlement only in respect of :-
a) Shares transferred into the Depositors Securities Account on or before 12.30 p.m. on 20 August 2010 in respect of
ordinary transfers; and
b) Shares bought on the Bursa Malaysia Securities Berhad on a cum entitlement basis according to the Rules of the
Bursa Malaysia Securities Berhad.
BY ORDER OF THE BOARD
KARINA CHONG MEI YING (LS 0009542)
CHONG SWEE YOON (MAICSA 7010242)
CATHERINE MAH SUIK CHING (LS 01302)
Joint Secretaries
Kuala Lumpur
Date : 27 July 2010
ANNUAL REPORT 2010
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NOTICE OF ANNUAL
GENERAL MEETING
NOTES :
1. A member entitled to attend and vote at the above meeting is entitled to appoint a proxy to attend and vote in his
stead. A proxy may but need not be a member of the Company. Section 149(1)(b) of the Companies Act, 1965 shall
not apply.
2. A member may appoint more than two (2) proxies to attend at the same meeting. Where a member appoints two (2)
or more proxies, the proxies shall not be valid unless the member specifes the proportion of his shareholdings to
be represented by each proxy.
3. The instrument appointing a proxy in the case of an individual shall be signed by the appointor or his attorney and
in the case of a corporation, the instrument appointing a proxy or proxies must be under seal or under the hand of
an offcer or attorney duly authorised.
4. The instrument appointing proxy shall be deemed to confer authority to demand or join in demanding a poll.
5. The instrument appointing a proxy must be deposited a the Registered Offce at Level 8, Symphony House, Block
D13, Pusat Dagangan Dana 1, Jalan PJU 1A/46, 47301 Petaling Jaya, Selangor Darul Ehsan at least forty-eight (48)
hours before the time appointed for holding the meeting or any adjournment thereof.
EXPLANATORY NOTES ON SPECIAL BUSINESS :
1. Resolution 8 Authority to Allot Shares pursuant to Section 132D of the Companies Act, 1965
The Resolution 8, if approved, will empower the Directors of the Company, from the date of the above Annual
General Meeting, authority to allot and issue shares in the Company up to an amount not exceeding in total 10%
of the issued capital of the Company for such purposes as the Directors consider would be in the interest of the
Company. This authority unless revoked or varied at a General Meeting will expire at the next Annual General
Meeting.
2. Resolution 9 Proposed Renewal of Shareholders Mandate for Recurrent Related Party Transactions of a
revenue or trading nature
The Resolution 9, if approved, will enable the Company and its subsidiaries to continue entering into the recurrent
related party transactions of a revenue or trading nature with Syarikat Perniagaan Chong Mah Sdn Bhd, which
are necessary for its day-to-day operations and are in the ordinary course of business and on terms not more
favourable to the related party than those generally available to the public and are not to be detriment of the minority
shareholders of the Company. This authority unless revoked or varied at a General Meeting will expire at the next
Annual General Meeting.
Further information on the proposed Ordinary Resolution No. 9 is set out in the Circular to Shareholders dated 27 July
2010.
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ANNUAL REPORT 2010
CHAIRMANS
STATEMENT
Dear Shareholders,
The fnancial year ended 31 March 2010 (FY2010) was a fruitful year for
Oriental Food Industries Holdings Berhad (OFIH; the Group), marked
by improving fnancial results and expanding product range.
On behalf of the Board of Directors, I am delighted to present to you the
2010 Annual Report.
All said, FY2010 ended with the Group achieving the best-
ever net proft attributable to shareholders of RM12.4
million up 27.0% from RM9.8 million previously. This
translates to basic earnings per share (EPS) of 20.6 sen,
versus 16.3 sen of the previous fnancial year.
The Groups balance sheet remains healthy with much
fexibility to undertake expansion initiatives. As at 31
March 2010, total borrowings stood at RM8.6 million, an
undemanding level compared to the shareholders fund of
RM113.4 million and cash equivalents of RM14.1 million.
We are indeed very pleased with our fnancial performance
in the year under review, and are optimistic in maintaining
this uptrend, given the recovering consumer sentiment as
well as the Groups growth plans put in place.
BUSINESS ENVIRONMENT
The year 2009 began on a low note as the general business
sentiment was still very much affected by the recent
economic crisis. The food and beverage manufacturing
industry was also affected despite its inherent resilience.
As for snack products, demand in Malaysia did slip a little
in the beginning.
Nonetheless, toward the second half of the year 2009,
economies across the region began to see recovery. This
trend is evident even in Malaysia as our Gross Domestic
Product (GDP) narrowed its decline to negative 1.2%
in the third quarter and took a sharp turnaround with a
positive 4.5% growth in the fourth quarter of the year. The
recovery continued its trend going into the year of 2010.
FINANCIAL AND OPERATIONS REVIEW
In line with the recovering economic trend, the Group saw
its revenue going up 6.1% to record RM125.7 million in
FY2010, compared with RM118.4 million in the previous
year. The growth was largely attributable to increased
volume of business.
The Groups pre-tax proft on the other
hand grew faster at 37.5% to RM13.8
million in FY2010, against RM10.1 million
previously.
The quicker pace was driven principally
by a better sales mix as well as a more
effcient cost structure, as a result of
better raw material prices. In addition, the
Groups pre-tax proft was boosted by a
gain of RM1.6 million from the sale of a
land held for development.
Segmented geographically, the Groups
revenue mix was 53.0% local sales
and 47.0% export sales, which was not
signifcantly different from that of previous years. In terms
of growth rate, local sales grew 9.8% year-on-year to
RM66.7 million in FY2010, while export sales expanded
marginally at 2.3% year-on-year to RM59.0 million.
Looking at our product performance, the year under review
saw strong growth of 17.6% in our snacks category,
outperforming the sales of cakes and wafers. The growth
was particularly spurred by the increasing sales of our
potato-based snacks under the Jacker brandname.
During the year under review, the other two product
categories namely cakes and wafers however experienced
lower export sales to our traditional markets, resulting in
the Group posting decreased sales for these products.
Geographical Revenue
Contribution
47%
53%
Local
2.3%
17.6%
Export
Product Revenue
Contribution
72%
5%
23%
Cakes Wafers Snacks
9.8%
15.8%
11.6%
Geographical Revenue
Contribution
47%
53%
Local
2.3%
17.6%
Export
Product Revenue
Contribution
72%
5%
23%
Cakes Wafers Snacks
9.8%
15.8%
11.6%
ANNUAL REPORT 2010
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CHAIRMANS
STATEMENT
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DIVIDENDS
In line with the commendable fnancial performance,
the Board has thus far declared and paid three interim
dividends amounting to a total of 6 sen per share (tax-
exempt).
The Board is pleased to propose fnal dividends of 2 sen (tax
exempt) plus 2 sen (less 25% tax), subject to shareholders
approval during the upcoming Annual General Meeting.
With the fnal dividends, the total dividend payout for the
year would amount to RM5.7 million or 46.0% of FY2010s
net profts.
The Board has also recently announced a dividend policy
of paying a minimum of 35% of net proft to shareholders
from FY2011 onwards. With this, shareholders will be able
to consistently enjoy returns corresponding with our future
growth.
BUSINESS OUTLOOK & STRATEGIES
LOCAL
The snacks industry has much potential to grow,
what with the growing population of young people
and the increasingly-popular lifestyle of snacking with
entertainment.
Recognizing the market potential, we have undertaken
a number of strategies to not only create our brand
awareness but also broaden our market share.
Going forward, we will continue to focus on market
research and product development to enhance the favor
of our existing products and roll-out new products.
The case in point is Zess, our new product line of
chocolate-coated wafer rice crispies. We intend to move
aggressively with the marketing and distribution of the
said product commencing August 2010.
Backing our growing range of products, we will continue
using our tried-and-tested marketing initiatives to create
greater awareness of our products through advertisements
and participation in community entertainment events.
For instance, we are capitalizing on the huge following of
the World Cup in mid 2010. For this purpose, OFIH had
allocated a budget of RM1.5 million million for the Jacker
Kick Off contest to create greater brand visibility of the
Jacker brand name. TV commercials were placed during
the broadcast of the matches in local TV channels. With
that, we are confdent of capturing more market share of
the potato crisps market.
Last but not the least, we also aim to extend our market
reach further, especially in the traditional markets, by
incentivizing the distributors and wholesalers for increased
sales volume.
REGIONAL
On the regional front, we aim to continue growing our sales
volumes by appointing more distributors in major overseas
markets. At present, our products are sold to more than
40 countries in the region, including highly-discerning
consumer markets such as Japan and Australia.
Already ISO 9001:2008 and HACCP*-certifed, the Group
seeks to continue to improve its product quality to keep up
with the ever-demanding international health standards. At
present, we are in the process of obtaining the ISO:22000
certifcation for the production of potato crisps, wafer rice
crisps and confectioneries.
With these strategies in place, we are optimistic in bringing
the Group to new levels of growth towards becoming a
major snacks manufacturer in the region.
* Hazard Analysis and Critical Control Point
CORPORATE SOCIAL RESPONSIBILITY (CSR)
OFIH is conscious of the importance of playing our part
in improving the wellbeing of communities we operate
in to ensure a sustainable business enterprise. Thus far
our CSR initiatives include donating in the form of money
and product to various non-proftable organizations and
hosting education visits for students, undergraduates and
a governmental organizations i.e. Institut Penyelidikan
dan Kemajuan Pertanian Malaysia.
CORPORATE GOVERNANCE
The Board is committed towards upholding the values
of corporate governance by embracing the principles
and best practices as set out in the Malaysian Code of
Corporate Governance.
Across the Group, we ensure that business is conducted
with integrity, discipline, transparency and in a socially
responsible manner. Our corporate governance efforts
practiced during the year is outlined in our Corporate
Governance Statement in this Annual Report.
ACKNOWLEDGEMENT
On behalf of the Board of Directors of OFIH, I would like to
express my deepest appreciation to our valued customers,
management and employees, business associates and
suppliers for their dedication and support rendered to the
Group.
With the economic uptrend, the year ahead will be
favourable times for us and we hope to continue charting
growth ahead.
TAN SRI DATO AZIZAN BIN HUSAIN
Chairman
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CORPORATE
STRUCTURE
Oriental Food Industries Holdings Berhad (OFIH) was incorporated on 8 June 1996 in Malaysia under the Companies
Act, 1965 as a public limited company. OFIH was listed on the Second Board of Bursa Malaysia Securities in August 2000
and was subsequently transferred to the Main Board on 13 October 2003. Currently OFIH is listed on the Main Market of
Bursa Malaysia Securities Berhad.
OFIH is principally an investment holding company while the OFIH Group has subsidiaries that are engaged in the
following activities:
Name of Major Subsidiaries Equity Interest (%) Principal Activities
Subsidiaries of OFIH
Oriental Food Industries Sdn. Bhd. (OFI) 100 Manufacturing and marketing of snack
food and confectioneries.
OFI Properties Sdn. Bhd. (OFIP) 80 Property Development
Subsidiary of OFI
Oriental Food Marketing (M) Sdn. Bhd. (OFM) 100 Sales and marketing of snack food and
confectioneries.
OFIH Group Corporate Structure
OFI
OFIP
OFM
100%
80%
100%
OFIH
ANNUAL REPORT 2010
8
GROUP FINANCIAL
HIGHLIGHTS
Financial Analysis for Annual Report
Summarized Income Statement for Financial Year Ended 31 March 2006 2007 2008 2009 2010
RMmil
Revenue 108.6 125.5 124.4 118.4 125.7
Gross Prot 29.0 33.9 29.1 32.6 36.2
EBITDA* 15.5 15.7 10.1 15.4 19.8
Prot Before Tax 9.0 11.0 5.3 10.1 13.8
Net Prot Attributable to the Equity Holders of the Company 7.2 8.4 4.8 9.8 12.4
*Earnings Before Interest, Taxation, Depreciation and Amortisation

Summarized Balance Sheet as at 31 March 2006 2007 2008 2009 2010
RMmil
Non-Current Assets 74.2 72.8 81.4 88.1 85.3
Current Assets 31.4 41.4 39.8 42.6 51.3
Total Assets 105.6 114.2 121.2 130.7 136.6
Non-Current Liabilities 9.0 9.2 10.5 12.9 9.2
Current Liabilities 11.0 13.9 16.0 11.4 13.6
Total Liabilities 20.0 23.1 26.5 24.3 22.8
Shareholders Equity 85.6 90.9 94.5 106.2 113.4
Minority Interests 0.0 0.2 0.2 0.2 0.4
Total Equity and Liabilities 105.6 114.2 121.2 130.7 136.6

Summarized Cash Flow Statement for Financial Year Ended 31 March 2006 2007 2008 2009 2010
RMmil
Cash Flows From Operating Activities 19.5 8.2 9.6 18.6 14.6
Cash Flows From Investing Activities (15.5) (9.0) (12.7) (7.1) (1.6)
Cash Flows From Financing Activities (2.6) (2.7) (0.0) (0.4) (9.8)
Net Change in Cash and Cash Equivalents~ 1.4 (3.5) (3.1) 11.1 3.0
Cash and Cash Equivalents at Beginning of Year 4.6 6.0 2.5 (0.6) 10.5
Cash and cash equivalents at the end of year 6.0 2.5 (0.6) 10.5 13.5
~ Net of effect of FOREX translation

Financial Analysis 2006 2007 2008 2009 2010
Gross Margin 26.7% 27.0% 23.4% 27.6% 28.8%
EBITDA Margin 14.2% 12.5% 8.1% 13.0% 15.8%
Net Margin 6.6% 6.7% 3.8% 8.2% 9.9%
Return on Average Assets 7.0% 7.6% 4.0% 7.8% 9.3%
Return on Average Shareholders Equity 8.6% 9.5% 5.2% 9.7% 11.3%
Gearing Ratio Net Cash 0.04 0.12 0.02 Net Cash
Earnings Per Share (RM) 0.12 0.14 0.08 0.16 0.21
Dividend Per Share (RM)# 0.050 0.070 0.035 0.035 0.100
Net Tangible Assets Per Share 1.43 1.52 1.58 1.77 1.90
# Includes tax exempt and gross dividends
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GROUP FINANCIAL
HIGHLIGHTS
REVENUE (RMmil)
06 07 08 09 10
95.0
105.0
100.0
110.0
115.0
125.0
120.0
130.0
1
0
8
.
6
1
2
5
.
5
1
2
4
.
4
1
1
8
.
4
1
2
5
.
7
PROFIT BEFORE TAXATION (RMmil)
06 07 08 09 10
-
4.0
2.0
6.0
8.0
10.0
12.0
14.0
16.0
9
.
0
1
1
.
0
5
.
3
1
0
.
1
1
3
.
8
NET PROFIT (RMmil)
06 07 08 09 10
-
6.0
4.0
2.0
8.0
10.0
12.0
14.0
7
.
2
8
.
4
4
.
8
9
.
8
1
2
.
4
SHAREHOLDERS EQUITY (RMmil)
06 07 08 09 10
0.0
20.0
40.0
60.0
80.0
100.0
120.0
8
5
.
6
9
0
.
9
9
4
.
5
1
0
6
.
2
1
1
3
.
4
06 07 08 09 10
GEARING RATIO
0
0.04
0.02
0.06
0.08
0.1
0.12
0.14
0
.
0
0
0
.
0
4
0
.
1
2
0
.
0
2
0
.
0
0
RETURN ON AVERAGE SHAREHOLDERS EQUITY (%)
06 07 08 09 10
0.0
2.0
4.0
6.0
8.0
10.0
12.0
8
.
6
9
.
5
5
.
2
9
.
7
1
1
.
3
RETURN ON AVERAGE ASSETS (%)
06 07 08 09 10
0.0
2.0
4.0
6.0
8.0
10.0
7
.
0
7
.
6
4
.
0
7
.
8
9
.
3
EARNINGS PER SHARE (RM)
06 07 08 09 10
0
0.05
0.10
0.15
0.20
0.25
0
.
1
2
0
0
.
1
4
0
0
.
0
7
9
0
.
1
6
3
0
.
2
0
7
DIVIDEND PER SHARE (RM)
06 07 08 09 10
0.0
0.02
0.04
0.06
0.08
0.10
0.12
0
.
0
5
0
0
.
0
7
0
0
.
0
3
5
0
.
0
3
5
0
.
1
0
0
06 07 08 09 10
NET TANGIBLE ASSETS PER SHARE (RM)
1.00
1.20
1.40
1.60
1.80
2.00
1
.
4
1
.
5
1
.
6
1
.
8
1
.
9
ANNUAL REPORT 2010
10
CORPORATE
INFORMATION
JOINT COMPANY SECRETARIES
Karina Chong Mei Ying (LS0009542)
Chong Swee Yoon (MAICSA 7010242)
Catherine Mah Suik Ching (LS01302)

REGISTERED OFFICE
Jalan PJU1A/46
47301 Petaling Jaya
Tel : +603 7841 8000
Fax : +603 7841 8199
SHARE REGISTRAR
Sectrars Services Sdn Bhd
No. 28-2 Jalan Tun Sambanthan 3,
Bricksfelds 50470
Kuala Lumpur
Malaysia
Tel : +603 2274 6133
Fax : +603 2274 1016

BOARD OF DIRECTORS
Y. Bhg. Tan Sri Dato Azizan bin Husain
(Chairman) Independent Non-Executive Director
Son Chen Chuan
Managing Director
Hoo Beng Lee
Executive Director
Son Tong Leong
Executive Director
CORPORATE HEAD OFFICE
No. 65, Jalan Usaha 7
Air Keroh Industrial Estate
75450 Melaka
Tel : +606 231 0333
Fax : +606 232 2066
Email : of@tm.net.my
Website : www.ofh.com.my
AUDITORS
PricewaterhouseCoopers
PRINCIPAL BANKERS
Public Bank Berhad
OCBC Bank (Malaysia) Berhad
Malayan Banking Berhad
HSBC Bank Malaysia Berhad
STOCK EXCHANGE LISTING
Main Market
Bursa Malaysia Securities Berhad
STOCK NAME
OFI
STOCK CODE
7107
Son Tong Eng
Executive Director
Lim Keat Sear
Non-Executive Director
Datuk Jeffery Ong Cheng Lock
Independent Non-Executive Director
Lim Hwa Yu
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ANNUAL REPORT 2010
PROFILE OF THE
BOARD OF DIRECTORS
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Y Bhg. Tan Sri DatoAzizan bin Husain
66 years of age/Malaysian
Independent Non-Executive Chairman
YBhg. Tan Sri Dato Azizan bin Husain (YBhg. Tan Sri Azizan) was appointed as Non-Executive Chairman on 8 June
2000. He is also a member of the Audit Committee and the Nomination Committee.
YBhg. Tan Sri Azizan is currently the Chairman of one other listed company, namely Fiamma Holdings Berhad. At the
same time, he serves on other private companies.
YBhg. Tan Sri Azizan holds a B. A. Honours Degree and Diploma in Public Administration from the University of Malaya
and a Post Graduate Diploma in Economics and Master in Urban and Regional Planning from the University of Colorado,
Boulder, United States of America.
YBhg. Tan Sri Azizan started his career with the Ministry of Agriculture, Malaysia in 1967 and retired in 1999 as the
Secretary-General in the Ministry of Defence, Malaysia. Prior to his retirement, he had progressed on and gained vast
experience from various departments in the civil service. During his years with the Government Service, he has served
as Assistant Secretary with the Centre for Development Studies and the Economic Planning Unit in Prime Ministers
Department, Director of Economic Planning Unit, Sabah, Sabah State Director of Development, Deputy Secretary-General
with Ministry of Land and Regional Development, Deputy Director-General (Sectoral) Economic Planning Unit with Prime
Ministers Department, Director of Public Sector Companies Monitoring Division in the Ministry of Finance and Deputy
Secretary-General (Operation) in the Ministry of Finance.
YBhg. Tan Sri Azizan has attended all four (4) Board meetings held in the fnancial year.
YBhg. Tan Sri Azizan is not a shareholder of the Company and is not related to any director and/or major shareholder of
the Company. He does not have any confict of interest with the Company and has not been convicted of any offence
within the past ten (10) years.
Mr. Son Chen Chuan
Managing Director
Mr. Son Chen Chuan (Mr. Son) was appointed Managing Director since 8 June 2000. He is also a member of the
Nomination Committee.
Mr. Son is the founder of the Company and its subsidiaries (the Group). He is the driving force of the Group. With his
decade long experience in the industry and extensive knowledge gained through the years, he formulates and implements
the Groups corporate strategy. He also develops new products for both local and overseas market, ensuring that the
quality of products and packaging are high, keeping close contact with the local and overseas distributors to obtain
suggestions and feedback on the OFI products. Mr Son had through the years foster close relationships with the suppliers
and customers.
Mr. Son has attended all four (4) Board meetings held in the fnancial year.
He is related to Mr. Son Tong Leong (son), Mr. Son Tong Eng (son) and Mr Hoo Beng Lee (brother). He is a substantial
shareholder in the Company by virtue of his direct interest and deemed interest in the shareholdings held by members of
his family and via his shareholding in Apendo Capital Sdn Bhd and directorship in Summer Legend Sdn Bhd. He does not
have any confict of interest with the Company and has not been convicted of any offence within the past ten (10) years.
ANNUAL REPORT 2010
12
PROFILE OF THE
BOARD OF DIRECTORS
Mr. Hoo Beng Lee
Executive Director
Mr. Hoo Beng Lee (Mr. Hoo) was appointed to the Board on 8 June 2000. Mr. Hoo is also the Executive Director of OFI,
OFM and OFIP.
Mr. Hoo has been in the food industry for more than twenty (20) years and is responsible for the operations of the
production lines. With his vast experience and skills in the snack food manufacturing business and food processing
industries, he has contributed tremendously to the success of the Company.
He has attended all four (4) Board meetings held in the fnancial year.
He is related to Mr. Son Chen Chuan (brother), Mr. Son Tong Leong (nephew) and Mr. Son Tong Eng (nephew). He is also
a substantial shareholder in the Company by virtue of his direct interest and deemed interest in the shareholdings held
by members of his family and via his shareholding in Apendo Capital Sdn Bhd and directorship in Summer Legend Sdn
Bhd. He does not have any confict of interest with the Company and has not been convicted of any offence within the
past ten (10) years.
Mr. Son Tong Leong
Executive Director
Mr. Son Tong Leong was appointed to the Board on 8 June 2000. He holds a Bachelors degree in Business from the
Edith Cowan University, Australia.
He began his career in 1994 as the Factory Manager of OFI and was promoted to General Manager of the Company in
1998. He is now the Executive Director of OFI, OFM and OFIP. He is in charge of the overall corporate administration,
human resources, marketing and operations of the Company. He has maintained excellent relationship with staffs of
all levels, customers, suppliers and the Companys business partners. He also oversees the running of the factory
machineries and ensures that production works are carried out smoothly in compliance with the MS ISO 9001:2008 and
HACCP standards.
He has attended four (4) out of four (4) Board meetings held in the fnancial year.
He is related to Mr. Son Chen Chuan (father), Mr. Hoo Beng Lee (uncle) and Mr. Son Tong Eng (brother), all of whom are
Directors and substantial shareholders of the Company. He is also a substantial shareholder in the Company by virtue
of his direct interest and deemed interest in the shareholdings held by members of his family and via his shareholding in
Apendo Capital Sdn Bhd and directorship in Summer Legend Sdn Bhd. He does not have any confict of interest with the
Company and has not been convicted of any offence within the past ten (10) years.
Mr. Son Tong Eng
Executive Director
Mr. Son Tong Eng was appointed to the Board on 8 June 2000. He holds a Diploma in Mechanical Engineering from the
Federal Institute of Technology, Kuala Lumpur.
He has more than ten (10) years of experience in the food industry and is currently the Factory Manager of OFI. He oversees
the running of the factory machineries and ensures that production works are carried out smoothly in compliance with the
MS ISO 9001:2008 and HACCP standards.
He is related to Mr. Son Chen Chuan (father), Mr. Hoo Beng Lee (uncle) and Mr. Son Tong Leong (brother), all of whom
are Directors and substantial shareholders of the Company. He is also a substantial shareholder in the Company by virtue
of his direct interest and deemed interest in the shareholdings held by members of his family and via his shareholding in
Appendo Capital Sdn Bhd. He does not have any confict of interest with the Company and has not been convicted of
any offence within the past ten (10) years.
13
13
PROFILE OF THE
BOARD OF DIRECTORS
Mr. Lim Keat Sear
Non-Executive Director
Mr. Lim Keat Sear was appointed to the Board on 8 June 2000. He also serves as a member of the Nomination Committee
and Remuneration Committee.
He has been in the snack and confectionery business for more than twenty (20) years. He joined Syarikat Perniagaan
Chong Mah Sdn Bhd, a distributor of snack food and confectionery in 1973 and became a director of the Company in
1978.
He is not related to any of the directors of the Company. He is a substantial shareholder of the Company by virtue of
his direct interest and deemed interest via Syarikat Perniagaan Chong Mah Sdn Bhd, Thung Shung (M) Sdn Bhd and
Appendo Capital Sdn Bhd. He does not have any confict of interest with the Company and has not been convicted of
any offence within the past ten (10) years.
Mr. Lim Hwa Yu
Mr. Lim Hwa Yu (Mr Lim) was appointed to the Board on 23 February 1999. He is also a member of the Audit Committee
and Remuneration Committee. Mr. Lim qualifed as an Accountant from the United Kingdom in 1979. He is a Fellow of the
Chartered Association of Certifed Accountants, United Kingdom, Fellow of the Institute of Taxation, United Kingdom and
a Member of the Malaysian Institute of Accountants.
He is a partner of a public accounting frm, H.Y. Lim & Co. He has extensive experience in the feld of corporate planning
and management.
He is a minority shareholder of the Company and is not related to any director and/or major shareholder of the Company.
He does not have any confict of interest with the Company and has not been convicted of any offence within the past
ten (10) years.
Datuk Jeffery Ong Cheng Lock (Datuk Jeffery) was appointed to the Board on 14 May 2007. He also serves as a
member of the Audit Committee and Remuneration Committee.
Datuk Jeffery is an Associate of the Institute of Business Administration, Australia and was formerly the Senior Director
of Human Resources of Infneon Technologies, responsible for Recruitment, Compensation & Benefts, Welfare, Training,
Employee Relations and Government Relations. He currently serves as the Council Member of the Federation of Malaysian
Manufacturers (FMM), Chairman of FMM Malacca Branch, Board Member of FMM Institute, Member of the Malaysian
Institute of Management, Member of the Malaysian Institute of Personnel Management and Member of the Malacca
Industrial Skills Development Centre. Datuk Jeffery was a Panel Member of the Industrial Court and the SOCSO Appellate
Court.
Datuk Jefffery has attended all four (4) Board meetings held in the fnancial year.
Datuk Jeffery does not hold shares in the Company and is not related to any director and/or major shareholder of the
Company. He does not have any confict of interest with the Company and has not been convicted of any offence within
the past ten (10) years.
14
ANNUAL REPORT 2010
STATEMENT OF
The Board of Directors observes the Malaysian Code on Corporate Governance (Revised
2007) (the Code) and applies its principles and best practice in the Group towards
achieving the optional governance framework at all times.
The Board is pleased to set out below the compliance of the Group with the Best Practices set out in Part 2 of the Code
except otherwise stated.
A. DIRECTORS
The Board
The Board currently has eight (8) members, four (4) Executive Directors and four (4) Non-Executive Directors, three
(3) of whom are Independent Non-Executive Directors. This composition has complied with the minimum one-third
requirement for Independent Directors to be on the Board. The Board is led by YBhg. Tan Sri Dato Azizan Bin
Husain, an Independent Non-Executive Director and Chairman, while the executives are led by Mr Son Chen Chuan,
the Managing Director.
Overall, the Board is responsible for the application of good corporate governance, formulation of policies and
overseeing operations. The role of Chairman and Managing Director of the Company are separated to ensure a
balance of power and authority. The Independent Non-Executive Chairman is responsible for the orderly conduct
and effectiveness of the Board, whist the Managing Director is to delegate the Management and implementation of
policies and strategies adopted by the Board and the running of operations.
The Non-Executive Directors are independent of the management and majority shareholders. Together, they play
an important role by contributing their knowledge, advice and experience towards making independent judgement
on issues of strategies, performance, resources and standard of conducts.
The Directors profles are set out on pages 11 to 13 of this Annual Report.
Board Meetings
During the fnancial year ended 31 March 2010, four (4) Board Meetings were held. Set out below is the record of
attendance of the Board Members.
No. of Board Percentage of
Name Designation Meetings Attended Attendance (%)

Y. Bhg. Tan Sri Dato Chairman
Azizan Bin Husain Independent Non-Executive Director 4/4 100
Son Chen Chuan Managing Director 4/4 100
Hoo Beng Lee Executive Director 4/4 100
Son Tong Leong Executive Director 4/4 100
Son Tong Eng Executive Director 4/4 100
Lim Keat Sear Non-Executive Director 4/4 100
Lim Hwa Yu Independent Non-Executive Director 4/4 100
Datuk Jeffery Ong Cheng Lock Independent Non-Executive Director 4/4 100
15
STATEMENT OF
Board Committees
The following committees have been established to assist the Board to discharge its duties and responsibilities.
These committees operate under the defned terms of reference.
i) Audit Committee
ii) Nomination Committee
iii) Remuneration Committee
(i) Audit Committee
The composition and details of the committee are set out on pages 21 to 24 of this Annual Report.
(ii) Nomination Committee
The Committee is to assess and recommend nominees to the Board, to review mix skills and experience of
the Board members and the effectiveness of the Board as a whole.
The committee is made up by majority of Independent Non-Executive Directors.
Chairman : Y. Bhg. Tan Sri Dato Azizan Bin Husain
(Independent Non-Executive Director)
Members : Lim Keat Sear
(Non-Executive Director)
Son Chen Chuan
(Managing Director)

(iii) Remuneration Committee
The primary function of the Committee is to set up the policy framework and recommend to the Board on the
remuneration package for the Directors.
The Committee is made up wholly of Non-Executive Directors and the majority are independent. The members
of the Committee are as follows:-
Chairman : Lim Hwa Yu
Members:
Lim Keat Sear
(Non-Executive Director)
There were two (2) meetings held during the fnancial year.
Supply of Information
The Directors are supplied with information on a timely basis. The agenda and Board papers are circulated to
the members prior to the meeting and if required, they may request additional information or clarifcation from
the Management. The Board has unrestricted access to any information pertaining to the Group as well as to the
advice and services of the Company Secretary and independent professional advisers whenever appropriate at the
Companys expense. Members of the Board are regularly updated should there be any new statutory and regulatory
requirements.
16
ANNUAL REPORT 2010
STATEMENT OF
Retirement and Re-election
The retirement and re-election of directors are in accordance to the Articles of Association of the Company, which
provides that all Directors of the Company, including the Managing Directors are subject to retirement. At every
annual general meeting, at least one third in number of the Board and who have been longest in offce are subject to
retirement by rotation. A newly appointed director shall retire at the next coming annual general meeting. A retiring
Director is eligible for re-appointment.
Corporate Social Responsibilities (CSR)
The Company recognises the importance of CSR and has taken a proactive approach wherever possible to provide
monetary and products contribution to governmental departments, non-proftable and charitable organizations. The
Company also organizes educational factory tours for various educational and governmental institutions.
Furtherance to the above, in support of the local institutes of higher learning, the Company accepts undergraduates
to perform their industrial training in various departments at the factories owned by the Company.
The Company has contributed fnancial assistance to the following organizations:
i) Lion Club of Sibu Pahlawan Donation for Philippines Typhoon Relief Mission
ii) Dana Pembangunan Pendidikan dan Kebajikan Mubarak Negeri Melaka
iii) Persatuan Peniaga Barang Makanan dan Mainan Semenanjung Malaysia Utara
iv) Pertubuhan Penganut-Penganut Tokong Lao Shi
v) Ong Yah Hui Yang Keong
vi) Sam Tiong Keng
v) Persatuan Ibu Bapa dan Guru Sekolah Jenis Kebangsaan (C) Yok Bin Melaka

At company level, the Company hosts its annual dinner for all its local and foreign employees to promote harmonious
ties between all level of employees and as a token of recognition from the Top Management for the commitment and
dedication of the employees
B. DIRECTORS REMUNERATION
The aggregate remuneration of Directors for the fnancial year ended 31 March 2010 are as follows:-
Directors fees (RM) Salaries/ Benets- Other
Company Subsidiaries Allowances Bonuses in-kind emoluments Total
RM RM (RM) (RM) (RM) (RM) (RM)

Executive 80,000 96,000 1,300,000 330,000 75,628 337,540 2,219,168
Non-Executive 80,000 Nil 60,000 Nil Nil 4,800 144,800
The number of Directors of the Company whose total remuneration fall within the following band:-
Range of Remuneration Number of Directors
Executive Non-Executive
Less than RM50,000 Nil 3
RM50,000 RM100,000 Nil 1
RM100,001 RM150,000 Nil Nil
RM150,001 RM200,000 Nil Nil
RM200,001 RM250,000 Nil Nil
RM250,001 RM300,000 Nil Nil
RM300,001 RM350,000 Nil Nil
More than RM350,000 4 Nil
17
STATEMENT OF
C. DIRECTORS TRAINING
The Group acknowledges the importance of continuous education and training to the Board members.
During the fnancial year, Mr. Son Chen Chuan, Mr. Son Tong Leong, Mr. Son Tong Eng, Mr. Hoo Beng Lee, Mr. Lim
Keat Sear and Datuk Jeffery Ong Cheng Lock attended the sessions on Engagement versus Activism Achieving
the Right Balance? and The Changing Landscape of Shareholder Activism The Roles We Play organized by the
Securities Commission and Bursa Malaysia.
Tan Sri Dato Azizan bin Husain attended Character First, Implementation Seminar Character Recognition
Workshop on 25 May 2010.
Meanwhile, Mr. Lim Hwa Yu had attended the following sessions:-
i) MIA Dialogue;
ii) Preparing for Convergence : Understanding International Financing Report Standards & International
Accounting Standards
iii) Latest Development on Transfer Pricing in Malaysia and Tax Cases and Public Rulings
iv) National Seminar on Taxation 2009
v) An overview of GST Bill (Its Impact, Policy and Implementation).
D. RELATIONSHIP WITH SHAREHOLDERS & INVESTORS
Shareholders and investors relationship is of a matter of importance today. Effective communication will help
to enhance the confdence of the shareholders and investors towards the Company. The Board communicates
information on operations, activities and performance of the Group to the shareholders, investors and public via the
following:-
a) The Annual Report, which contains the fnancial and operational review of the Groups business, corporate
and fnancial information and the information on the Board and Committees.
b) Various announcements made to Bursa Malaysia.
c) The website of the Company which provides the updated information of the Company such as products and
activities.
The Annual General Meeting represents the principal forum for dialogue and interaction with all shareholders. At
each annual general meeting, the Board presents the progress and performance of the Groups business and invites
shareholders to participate in the question and answer session.
E. ACCOUNTABILITY AND AUDIT
Financial Reporting
The Board, assisted by the Audit Committee aims to present a balance and understandable assessment of the
Companys fnancial position and prospects through its annual audited fnancial statements and quarterly reports.
A statement by the Directors of their responsibilities in relation to the fnancial statements is set out on page 18 of
this Annual Report.
18
ANNUAL REPORT 2010
STATEMENT OF
Internal Control and Risk Management
The Board acknowledges the importance of internal controls and risk management both in the strategy and
operational level. The Board recognises its responsibility for a sound internal control system covering not only
fnancial controls but also operational and compliance controls as well as risk management.
Information on the Groups Internal Control is presented in the Statement on Internal Control set out on pages 19
and 20 of this Annual Report.
Relation with Auditors
The Audit Committee maintains a transparent relationship with the internal and external auditors in seeking their
professional advice and ensuring compliance with the applicable laws and regulations.
The Statement on Internal Control has been duly reviewed by the external auditor.
The role of the Audit Committee in relation to the auditors is set out on pages 21 to 24 of this Annual Report.
F. STATEMENT OF DIRECTORS RESPONSIBILITY FOR PREPARING THE FINANCIAL STATEMENTS
In compliance with the Companies Act 1965, the Directors are responsible in the preparation of fnancial statements
prepared for each fnancial year to give a true and fair view of the state of affairs of the Group and the Company and
of the results and cash fow of the Group and the Company for the fnancial year end.
The Directors have ensured that in preparing the Financial Statements:-
a) Suitable Accounting Policies have been adopted and applied consistently;
b) Prudent judgment and estimates have been made, where necessary;
c) Requirements of the MASB Approved Accounting Standards in Malaysia for Entities Other than Private Entities
have been followed.
The Directors are responsible for ensuring that the Group keeps suffcient accounting records to disclose with
reasonable accuracy, the fnancial position of the Group and to ensure that the Financial Statements presented
comply with the requirements of the Companies Act 1965 and other regulatory requirements.
The Board of Directors accepts responsibility for the integrity and objectivity of the Financial Statements presented.
The responsibility of the Auditors in relation to the Financial Statements appears in the Independent Auditors
Report on pages 31 and 32 of this Annual Report.
This statement was made by the Board of Directors in accordance with a resolution of the Board of Directors dated
7 July 2010.
TAN SRI DATO AZIZAN BIN HUSAIN
CHAIRMAN
19
STATEMENT ON
INTERNAL CONTROL
Introduction
The Board of Directors (the Board) of Oriental Food Industries Holdings Berhad (OFIH) recognises that it
is the Boards responsibility in reviewing the adequacy and integrity of the Groups system of internal control
and risk management practices. Pursuant to paragraph 15.26(b) of the Main Market Listing Requirements
of Bursa Malaysia Securities Berhad, and as guided by the Statement on Internal Control: Guidance for
Directors of Public Listed Companies (the Guidance), the Board is pleased to present the statement on the
state of the internal controls of the Group for the fnancial year ended 31 March 2010.
Board Responsibility
The Board affrms its overall responsibility for the Groups system of internal controls and risk management practices in
order to safeguard shareholders investment and the companys assets. The Groups system of internal controls includes
the establishment of an appropriate control mechanism and framework as well as reviewing its adequacy and integrity.
However, in view of the limitations that are inherent in any system of internal controls, this system is designed to manage,
rather than eliminate risks that may impede the achievement of the Groups corporate objectives. Accordingly, the
internal control and risk management systems can only provide reasonable but not absolute assurance against material
misstatement of management and fnancial information and records or against fnancial losses or fraud. The process of
devising internal control procedures takes into consideration the cost of implementation as compared to the expected
benefts to be derived from the implementation of the internal control.
RISK MANAGEMENT
Pursuant to the Guidance, the primary objective and direction of managing the Groups principal business risks are to
enhance the Groups ability to achieve its business and corporate objectives. In view of this, the Board had developed
a key risks profle which identifes signifcant risks faced by the Group. During the fnancial year ended 31 March 2010,
the Management had completed the update exercise of the key risks profle of the Group, taking into consideration the
recent changes and developments in the operating and fnancial environment since the development of key risks profle.

INTERNAL AUDIT FUNCTION
The review of the adequacy and integrity of the Groups internal control system is outsourced to an independent consulting
frm reporting directly to Audit Committee. Through this review mechanism and structure, the Board is provided with
much of the assurance it requires regarding the adequacy and integrity of the Groups systems of internal control.
Periodical visits and internal audit reviews are carried out based on the Internal Audit Plan approved by the Audit
Committee. During fnancial year ended 31 March 2010, the internal audit function has conducted two (2) cycles of
internal control reviews concentrated on sales and marketing management, credit controls and distribution controls.
Upon the completion of the internal audit reviews, internal audit reports were prepared and presented to the Audit
Committee for review on periodical basis. The internal audit reports highlighted improvement opportunities identifed
during the internal audit reviews together with relevant action plans formulated by Management to address the issues
highlighted. Although a number of areas for improvements were identifed during the internal audit reviews, nothing has
come to the attention of the Board which would result in any material losses, contingencies or uncertainties that would
require separate disclosure in this annual report.
20
ANNUAL REPORT 2010
STATEMENT ON
INTERNAL CONTROL
OTHER KEY ELEMENTS OF INTERNAL CONTROLS
The following key processes have been established to enhance the adequacy and integrity of the Groups system of
internal controls:
A defned organisational structure with clear lines of responsibility and delegated authority;
Financial results are reviewed quarterly by Audit Committee and the Board;
Key operational procedures formulated by the Management in compliance with International Organisation for
Standardisation (ISO) certifcation obtained;
On-the-job training and external courses are identifed for relevant departments to ensure that they are suffciently
skilled to perform their duties effectively and effciently;
Meetings are held regularly to identify, discuss and resolve business and operational issues which might affect the
Group from achieving its business objectives; and
Close involvement by the Directors with Heads of Department on day-to-day operational, corporate, fnancial and
key management issues.

CONCLUSION
The Board is committed towards maintaining an effective risk management framework and sound systems of internal
control throughout the Group and where necessary put in place appropriate action plans to further enhance the Groups
systems of internal control.
Notwithstanding this, the Board will continue evaluating and managing the signifcant risks faced by the Group in order to
meet its business objectives in the current challenging business environment.
This statement is issued in accordance with a resolution of the Directors dated 27 May 2010.
21
AUDIT COMMITTEE
REPORT
A. MEMBERSHIP
The Audit Committee of the Company comprises of 3 members as follows:-
Name of Member Position
Y Bhg Tan Sri Dato Azizan Bin Husain Chairman
Datuk Jeffery Ong Cheng Lock Member
Lim Hwa Yu Member
B. TERMS OF REFERENCE OF AUDIT COMMITTEE
I. Composition
The Audit Committee shall be appointed by the Board of Directors amongst the Directors of the Company and
the following requirements must be met:--
(a) The audit committee must consist of not less than three (3) members;
(b) The audit committee is made up of non-executive directors with the majority of the members must be
independent directors;
(c) The Chairman of the Audit Committee must be an independent director;
(d) At least one (1) member of the audit committee
i. must be a member of the Malaysian Institute of Accountants; or
ii. if he is not a member of the Malaysian Institute of Accountants, he must have at least 3 years
working experience and :-
has passed the examinations specifed in Part I of the 1st Schedule of the Accountants Act,
1967; or
a member of one of the associations of accountants specifed in Part II of the 1st Schedule
of the Accountants Act 1967.
iii. fulfls such other requirements as prescribed or approved by the Exchange
(e) No alternate director shall be appointed as a member of the Audit Committee.
22
ANNUAL REPORT 2010
AUDIT COMMITTEE
REPORT
II. Objectives
* Provide assistance to the Board of Directors in fulflling its statutory and fduciary responsibilities by
ensuring that the Company is operating in accordance with its prescribed procedures and codes of
conduct.
* Serve as an independent and objective party in the review of the fnancial information presented by
management for distribution to shareholders and the general public.
* Provide direction and controls over the internal audit function and the external auditors.
* Provide by way of regular meetings, a line of communication between the Board and the external
auditors.
* Determine that the Company has adequate administrative, operational, and internal accounting
controls and that the Company is operating in accordance with its prescribed procedures and codes of
conduct.
III. Meetings
Frequency of Meetings
Meetings shall be conducted at least four (4) times a year, or more frequently as circumstances dictate..
Quorum
A majority of the members, who are independent directors, present, being not less than two (2), shall form a
quorum.
Attendance at Meetings
The three (3) Audit Committee Members achieved full attendance records for all the four (4) Audit Committee
Meetings held during the fnancial year
Name Number of meetings attended
Y Bhg Tan Sri Dato Azizan Bin Husain 4/4
Datuk Jeffery Ong Cheng Lock 4/4
Lim Hwa Yu 4/4
The Internal Auditors and representatives of the external Auditor shall normally attend the meetings. However,
when deemed necessary, the Committee may invite the Board members or any other person to be in
attendance to assist it in its deliberations. The Committee will also have at least two sessions with the external
auditors without the presence of Executive Directors.
The Company Secretary of the Company shall be Secretary of the Committee and to record minutes of the
meetings for circulation to the Committee members.

23
AUDIT COMMITTEE
REPORT
IV. Authority
To investigate any activity within its terms of reference. It has free access to all information and documents
it requires for the purpose of discharging its functions and responsibilities.
To access and obtain outside legal or other independent professional advice as it considers necessary.
To have direct communication channels to deal with the external and internal auditors.
To convene meetings with external auditor and / or internal auditors, excluding the attendance of the
directors and employees of the Company, whenever deemed necessary.
The Committee shall have all necessary resources to perform its duties.
V. Duties and responsibilities
a) To review the statutory fnancial statements, annual report and quarterly results prior to submission to
the Board and focus particularly on :-
- changes in or implementation of major accounting policy changes;
- signifcant and unusual events; and
- compliance with accounting standards and other legal requirements.
b) To review the fndings of internal and external auditors (as the case may be) on internal controls and
other audit comments.
c) To review the nature, scope and resources of the external and internal auditors (if applicable) to ensure
no unjustifed restrictions are imposed by management.
d) To consider any signifcant audit fndings reported by internal auditor & managements responses thereto
and to ensure appropriate action are taken on the recommendation.
e) To liaise directly between the external auditors, the management and the Board as a whole, particularly
with regard to the audit plan and audit report.
f) To discuss problems and reservation arising from the interim and fnal audit and any matter the auditors
may wish to discuss.
g) To consider and recommend the appointment and remuneration of external auditors.
h) To review the maintenance of an effective system and controls in the business process.
i) To review the companys accounting policies and reporting requirements to ensure compliance with the
relevant laws and standards.
j) To review company compliance with relevant law and listing requirements and to ensure prompt
announcements to the Bursa Malaysia in accordance to the Bursa Malaysia Listing Requirements.
24
ANNUAL REPORT 2010
AUDIT COMMITTEE
REPORT
k) To review any related party transaction and confict of interest situation that may arise within the
Company or group including any transaction, procedure or course of conduct that raises questions of
management integrity.
l) To review the assistance provided / given by the employees of the Company and group to the auditors.
C. SUMMARY ACTIVITIES OF AUDIT COMMITTEE
During the Audit Committee Meetings, the following activities were carried out:-
Reviewed and commented on the quarterly fnancial result before recommending the same for Boards
approval.
Reviewed the year end audited fnancial statements presented by the external auditors and inquired and
attended to the relevant matters pertaining to the fnancial statements of the Company.

Reviewed with the external auditors the nature and scope of their engagement and annual audit plan, the
fndings and results of their examination, their auditors report and management letters in relation to the audit
and accounting issues arising from the audit and the resource and assistance provided to them.
Discussed and noted the changes in accounting policies/standards that are applicable to the Company.
Reviewed the internal audit reports, which highlighted the audit issues and Managements response.
Reviewed the internal audit resource requirements, internal audit plan, fndings and progress for the fnancial
year under review.
Reviewed the performance/operational audit of subsidiaries and recommendations relating thereto.
Reviewed the recurrent related party transaction to ensure the transaction entered is undertaken on the
groups normal commercial terms and the procedures with regards to such transaction are suffcient.
D. INTERNAL AUDIT FUNCTION
The internal audit function of the Group is outsourced to a professional consulting frm to undertake independent,
objective and systematic reviews of the internal controls system to evaluate its adequacy and effectiveness. The
outsourced internal auditors conduct the internal audit reviews according to the internal audit plan approved by
the Audit Committee. The results of the internal audit reviews are tabled to the Audit Committee at their scheduled
meetings highlighting the following:
Internal audit fndings / areas for improvement;
Recommendations to remedy the control weaknesses / improve existing internal controls system; and
Managements response and action plans to internal audit fndings / areas for improvement and related
recommendations.
The cost incurred in connection with the internal audit function during the fnancial year amounted to RM28,740.
FINANCIAL
STATEMENTS
26 Directors report
30 Statement by Directors
30 Statutory declaration
31 Independent auditors report
33 Income statements
34 Balance sheets
36 Consolidated statement of changes in equity
37 Company statement of changes in equity
38 Consolidated cash fow statement
40 Company cash fow statement
41 Notes to the fnancial statements
26
ANNUAL REPORT 2010
The Directors have pleasure in submitting their report together with the audited fnancial statements of the Group and
Company for the fnancial year ended 31 March 2010.
Principal activity
The principal activity of the Company is investment holding. The principal activities of the Group consist of manufacturing,
sales and marketing of snack food and confectioneries and property development. There have been no signifcant
changes in these activities during the fnancial year.
Financial results
Group Company
RM RM

Proft after tax and net proft for the fnancial year 12,643,771 5,704,749

Attributable to:
Equity holders of the Company 12,400,908 5,704,749
Minority interest 242,863 0
12,643,771 5,704,749
Dividends
The amounts of dividends paid or declared by the Company since 31 March 2009 are as follows:
RM
In respect of the fnancial year ended 31 March 2009 as shown in the Directors report of that year:
Final gross dividend of 3.5 sen per ordinary share less income tax at 25%, paid on 9 October 2009 1,574,998
In respect of the fnancial year ended 31 March 2010:
First interim tax exempt dividend of 2 sen per ordinary share, paid on 9 October 2009 1,200,000
Second interim tax exempt dividend of 2 sen per ordinary share, paid on 16 December 2009 1,200,000
Third interim tax exempt dividend of 2 sen per ordinary share, paid on 29 March 2010 1,200,000
5,174,998
On 27 May 2010, the Directors proposed, subject to the approval of the members at the forthcoming Annual General
Meeting of the Company, a fnal tax exempt dividend of 2 sen per share and a gross dividend of 2 sen per share less
income tax at 25%, amounting to RM2,100,000 for the fnancial year ended 31 March 2010.
DIRECTORS
REPORT
27
Reserves and provisions
All material transfers to or from reserves or provisions during the fnancial year are shown in the fnancial statements.
Directors
The Directors who have held offce during the period since the date of the last report are:
Y. Bhg. Tan Sri Dato Azizan bin Husain
Mr Son Chen Chuan
Mr Hoo Beng Lee
Mr Son Tong Leong
Mr Son Tong Eng
Mr Lim Keat Sear
Mr Lim Hwa Yu
In accordance with the Companys Articles of Association, Mr Son Chen Chuan, Mr Son Tong Eng and Datuk Jeffery
Ong Cheng Lock retire by rotation at the forthcoming Annual General Meeting and, being eligible, offer themselves for
re-election.
Directors benets
During and at the end of the fnancial year, no arrangements subsisted to which the Company is a party, with the object or
objects of enabling Directors of the Company to acquire benefts by means of the acquisition of shares in or debentures
of the Company or any other body corporate.
Since the end of the previous fnancial year, no Director has received or become entitled to receive a beneft (other than
benefts disclosed as Directors remuneration in Note 7 to the fnancial statements) by reason of a contract made by the
Company or a related corporation with the Director or with a frm of which he is a member, or with a company in which he
has a substantial fnancial interest except for any beneft which may be deemed to have arisen by virtue of transactions
in the course of business with a company in which a Director has substantial fnancial interest as set out in Note 30 to the
fnancial statements.

DIRECTORS
REPORT
28
ANNUAL REPORT 2010
DIRECTORS
REPORT
Directors interests in shares and debentures
According to the Register of Directors shareholdings, the interests of Directors who held offce at the end of the fnancial
year in shares in the Company are as follows:
Number of ordinary shares of RM1 each
At At
1.4.2009 Bought Sold 31.3.2010

Mr Son Chen Chuan
- direct 18,107,383 0 0 18,107,383
- indirect 7,532,744 0 0 7,532,744*
Mr Hoo Beng Lee
- direct 3,334,921 0 0 3,334,921
- indirect 22,305,206 0 0 22,305,206*
Mr Son Tong Leong
- direct 1,306,175 0 0 1,306,175
- indirect 24,333,952 0 0 24,333,952*
Mr Son Tong Eng
- direct 1,290,124 0 0 1,290,124
- indirect 24,350,003 0 0 24,350,003*
Mr Lim Keat Sear
- direct 733,753 0 0 733,753
- indirect 11,520,624 0 0 11,520,624*
Mr Lim Hwa Yu
- indirect 828,000 0 0 828,000
- direct 40,000 0 (40,000) 0
None of the other Directors in offce at the end of the fnancial year held any other interest in shares in the Company and
its related corporations during the fnancial year. No Directors held any interest in debentures of the Company and its
related corporations during the fnancial year.
Statutory information on the nancial statements
Before the income statements and balance sheets were made out, the Directors took reasonable steps:
(a) to ascertain that proper action had been taken in relation to the writing off of bad debts and the making of allowance
for doubtful debts and satisfed themselves that all known bad debts had been written off and that adequate
allowance has been made for doubtful debts; and
(b) to ensure that any current assets, other than debts, which were unlikely to realise in the ordinary course of business
their value as shown in the accounting records of the Group and Company have been written down to an amount
which they might be expected so to realise.

At the date of this report, the Directors are not aware of any circumstances:
(a) which would render the amounts write off for bad debts or the amount of the allowance for doubtful debts in the
fnancial statements of the Group and Company inadequate to any substantial extent; or
(b) which would render the values attributed to current assets in the fnancial statements of the Group and Company
misleading; or
29
Statutory information on the nancial statements (continued)
(c) which have arisen which render adherence to the existing method of valuation of assets or liabilities of the Group
and Company misleading or inappropriate.
No contingent or other liability has become enforceable or is likely to become enforceable within the period of twelve
months after the end of the fnancial year which, in the opinion of the Directors, will or may substantially affect the ability
of the Group or the Company to meet their obligations when they fall due.
At the date of this report, there does not exist:
(a) any charge on the assets of the Group and Company which has arisen since the end of the fnancial year which
secures the liability of any other person; or
(b) any contingent liability of the Group and Company which has arisen since the end of the fnancial year.
At the date of this report, the Directors are not aware of any circumstances not otherwise dealt with in this report or the
fnancial statements which would render any amount stated in the fnancial statements misleading.
In the opinion of the Directors,
(a) the results of the Groups and Companys operations during the fnancial year were not substantially affected by any
item, transaction or event of a material and unusual nature; and
(b) there has not arisen in the interval between the end of the fnancial year and the date of this report any item,
transaction or event of a material and unusual nature likely to affect substantially the results of the operations of the
Group and Company for the fnancial year in which this report is made.

Auditors
The auditors, PricewaterhouseCoopers, have expressed their willingness to continue in offce.
Signed on behalf of the Board of Directors in accordance with their resolution dated 1 June 2010.
SON CHEN CHUAN SON TONG LEONG
DIRECTOR DIRECTOR
DIRECTORS
REPORT
30
ANNUAL REPORT 2010
STATEMENT BY
DIRECTORS
PURSUANT TO SECTION 169(15) OF THE COMPANIES ACT, 1965
STATUTORY
DECLARATION
PURSUANT TO SECTION 169(16) OF THE COMPANIES ACT, 1965
We, Son Chen Chuan and Son Tong Leong, being two of the Directors of Oriental Food Industries Holdings Berhad, state
that, in the opinion of the Directors, the fnancial statements set out on pages 33 to 70 are drawn up so as to give a true
and fair view of the state of affairs of the Group and Company as at 31 March 2010 and of the results and cash fows of
the Group and Company for the fnancial year ended on that date in accordance with the provisions of the Companies
Act, 1965 and the MASB Approved Accounting Standards in Malaysia for Entities Other than Private Entities.
Signed on behalf of the Board of Directors in accordance with their resolution dated 1 June 2010.
SON CHEN CHUAN SON TONG LEONG
DIRECTOR DIRECTOR
I, Son Tong Leong, the Director primarily responsible for the fnancial management of Oriental Food Industries Holdings
Berhad, do solemnly and sincerely declare that the fnancial statements set out on pages 33 to 70 are, in my opinion,
correct, and I make this solemn declaration conscientiously believing the same to be true, and by virtue of the provisions
of the Statutory Declarations Act, 1960.
SON TONG LEONG
Subscribed and solemnly declared by the abovenamed Son Tong Leong at Melaka in Malaysia on 1 June 2010, before
me.
KRISHNAN A/L MARIMUTHOO
COMMISSIONER FOR OATHS
31
INDEPENDENT
AUDITORS REPORT
TO THE MEMBERS OF ORIENTAL FOOD INDUSTRIES HOLDINGS BERHAD
(Incorporated in Malaysia) (Company No. 389769-M)
REPORT ON THE FINANCIAL STATEMENTS
We have audited the fnancial statements of Oriental Food Industries Holdings Berhad, which comprise the balance
sheets as at 31 March 2010 of the Group and of the Company and the income statements, statements of changes in
equity and cash fow statements of the Group and of the Company for the fnancial year then ended, and a summary of
signifcant accounting policies and other explanatory notes, as set out on pages 33 to 70.
Directors Responsibility for the Financial Statements
The Directors of the Company are responsible for the preparation and fair presentation of these fnancial statements in
accordance with the Companies Act, 1965 and the MASB Approved Accounting Standards in Malaysia for Entities Other
than Private Entities. This responsibility includes: designing, implementing and maintaining internal control relevant to the
preparation and fair presentation of fnancial statements that are free from material misstatement, whether due to fraud
or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable
in the circumstances.
Auditors Responsibility
Our responsibility is to express an opinion on these fnancial statements based on our audit. We conducted our audit
in accordance with approved standards on auditing in Malaysia. Those standards require that we comply with ethical
requirements and plan and perform the audit to obtain reasonable assurance whether the fnancial statements are free
from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the fnancial
statements. The procedures selected depend on our judgement, including the assessment of risks of material misstatement
of the fnancial statements, whether due to fraud or error. In making those risk assessments, we consider internal control
relevant to the entitys preparation and fair presentation of the fnancial statements in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of
the entitys internal control. An audit also includes evaluating the appropriateness of accounting policies used and the
reasonableness of accounting estimates made by the directors, as well as evaluating the overall presentation of the
fnancial statements.
We believe that the audit evidence we have obtained is suffcient and appropriate to provide a basis for our audit opinion.

Opinion
In our opinion, the fnancial statements have been properly drawn up in accordance with the MASB Approved Accounting
Standards in Malaysia for Entities Other than Private Entities and the Companies Act, 1965 so as to give a true and fair
view of the fnancial position of the Group and of the Company as of 31 March 2010 and of their fnancial performance
and cash fows for the fnancial year then ended.
32
ANNUAL REPORT 2010
INDEPENDENT
AUDITORS REPORT
TO THE MEMBERS OF ORIENTAL FOOD INDUSTRIES HOLDINGS BERHAD
(Incorporated in Malaysia) (Company No. 389769-M)
REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS
In accordance with the requirements of the Companies Act, 1965 in Malaysia, we also report the following:
(a) In our opinion, the accounting and other records and the registers required by the Act to be kept by the Company
and its subsidiaries have been properly kept in accordance with the provisions of the Act.
(b) We are satisfed that the fnancial statements of the subsidiaries that have been consolidated with the Companys
fnancial statements are in form and content appropriate and proper for the purposes of the preparation of the
fnancial statements of the Group and we have received satisfactory information and explanations required by us
for those purposes.
(c) Our audit reports on the fnancial statements of the subsidiaries did not contain any qualifcation or any adverse
comment made under Section 174(3) of the Act.
OTHER MATTERS
This report is made solely to the members of the Company, as a body, in accordance with Section 174 of the Companies
Act, 1965 in Malaysia and for no other purpose. We do not assume responsibility to any other person for the content of
this report.
PRICEWATERHOUSECOOPERS LIM TEONG KEAN
(No. AF: 1146) (No. 2499/12/11 (J))
Chartered Accountants Chartered Accountant
Melaka
1 June 2010
33
INCOME
STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2010
Group Company
2010 2009 2010 2009
Note RM RM RM RM

Revenue 4 125,709,885 118,440,509 6,547,860 2,728,275

Cost of sales (89,477,707) (85,798,619) 0 0
Gross proft 36,232,178 32,641,890 6,547,860 2,728,275

Other operating income 1,889,198 720,337 0 0

Selling and distribution costs (13,463,105) (13,091,319) 0 0

Administrative expenses (9,551,129) (9,488,129) (507,432) (423,574)

Other operating expenses (882,030) (199,173) 0 0

Finance costs 5 (398,849) (528,754) 0 0
Proft before tax 6 13,826,263 10,054,852 6,040,428 2,304,701

Tax 8 (1,182,492) (288,217) (335,679) (616,085)
Proft after tax and net proft for the
fnancial year 12,643,771 9,766,635 5,704,749 1,688,616

Attributable to:
Equity holders of the Company 12,400,908 9,767,976
Minority interest 242,863 (1,341)
12,643,771 9,766,635
Earnings per share attributable to the ordinary
equity holders of the Company
- basic (sen) 9 20.6 16.3
Dividends paid per share (sen) 10(a) 9.5 3.5
Dividends declared per share (sen) 10(b) 10.0 3.5
The accompanying notes on pages 41 to 70 form an integral part of the fnancial statements.
34
ANNUAL REPORT 2010
BALANCE
SHEETS
AS AT 31 MARCH 2010
Group Company
2010 2009 2010 2009
Note RM RM RM RM
Non current assets

Property, plant and equipment 11 71,052,843 73,634,998 0 0
Prepaid lease rentals 12 12,996,232 13,174,079 0 0
Investment properties 13 908,809 927,446 0 0
Subsidiaries 14 0 0 38,868,751 38,868,751
Investments 15 372,438 372,438 0 0
85,330,322 88,108,961 38,868,751 38,868,751
Current assets

Property development cost 16(a) 6,636,042 5,124,846 0 0
Assets held for sale 16(b) 0 1,197,372 0 0
Inventories 17 14,027,671 12,335,933 0 0
Trade and other receivables 18 16,436,749 13,254,166 8,000 4,000
Amounts receivable from subsidiaries 19 0 0 29,321,413 28,830,394
Tax recoverable 169,723 233,673 149,129 71,481
Fixed deposits with licensed banks 7,144,050 3,557,437 0 0
Cash and bank balances 6,932,059 6,911,291 26,900 31,134
51,346,294 42,614,718 29,505,442 28,937,009
Less: Current liabilities

Trade and other payables 20 9,642,790 7,389,968 209,902 171,220
Current tax liabilities 403,500 0 0 0
Borrowings (interest bearing) 21
- bank overdraft 567,624 0 0 0
- others 2,951,394 4,056,193 0 0
13,565,308 11,446,161 209,902 171,220
Net current assets 37,780,986 31,168,557 29,295,540 28,765,789
35
BALANCE
SHEETS
AS AT 31 MARCH 2010
Group Company
2010 2009 2010 2009
Note RM RM RM RM
Less: Non current liabilities

Borrowings (interest bearing) 21 5,046,454 8,162,993 0 0
Deferred tax liabilities 22 4,202,869 4,721,313 0 0
9,249,323 12,884,306 0 0
113,861,985 106,393,212 68,164,291 67,634,540
Equity attributable to equity holders
of the Company

Share capital 23 60,000,000 60,000,000 60,000,000 60,000,000
Share premium 0 0 5,530,994 5,530,994
Revaluation reserve 24 9,959,616 9,959,616 0 0
Retained earnings 25 43,464,266 36,238,356 2,633,297 2,103,546
113,423,882 106,197,972 68,164,291 67,634,540

Minority interest 438,103 195,240 0 0
Total equity 113,861,985 106,393,212 68,164,291 67,634,540
36
ANNUAL REPORT 2010
CONSOLIDATED STATEMENT
OF CHANGES IN EQUITY
Attributable to equity holders of the Company
Share Revaluation Retained Minority Total
capital reserve earnings Total interest equity
Note RM RM RM RM RM RM
2010

At 1 April 2009 60,000,000 9,959,616 36,238,356 106,197,972 195,240 106,393,212

Net proft for the
fnancial year 0 0 12,400,908 12,400,908 242,863 12,643,771

Dividends for the
fnancial year ended: 10
- 31 March 2009 0 0 (1,574,998) (1,574,998) 0 (1,574,998)
- 31 March 2010 0 0 (3,600,000) (3,600,000) 0 (3,600,000)
At 31 March 2010 60,000,000 9,959,616 43,464,266 113,423,882 438,103 113,861,985
2009

At 1 April 2008 60,000,000 6,529,344 28,045,378 94,574,722 196,581 94,771,303

Arising from revaluation
during the fnancial
year, net of tax 24 0 3,430,272 0 3,430,272 0 3,430,272
Gain recognised
directly in equity 0 3,430,272 0 3,430,272 0 3,430,272

Net proft for the
fnancial year 0 0 9,767,976 9,767,976 (1,341) 9,766,635

Total recognised gain
for the fnancial year 0 3,430,272 9,767,976 13,198,248 (1,341) 13,196,907

Dividends for the
fnancial year ended: 10
- 31 March 2008 0 0 (1,574,998) (1,574,998) 0 (1,574,998)
At 31 March 2009 60,000,000 9,959,616 36,238,356 106,197,972 195,240 106,393,212
37
COMPANY STATEMENT
OF CHANGES IN EQUITY
Non-
distributable Distributable
reserve reserve
Share Share Retained
capital premium earnings Total
Note RM RM RM RM

2010

At 1 April 2009 60,000,000 5,530,994 2,103,546 67,634,540

Net proft for the fnancial year 0 0 5,704,749 5,704,749

Dividends for the fnancial year ended: 10
- 31 March 2009 0 0 (1,574,998) (1,574,998)
- 31 March 2010 0 0 (3,600,000) (3,600,000)
At 31 March 2010 60,000,000 5,530,994 2,633,297 68,164,291

2009

At 1 April 2008 60,000,000 5,530,994 1,989,928 67,520,922

Net proft for the fnancial year 0 0 1,688,616 1,688,616

Dividends for the fnancial year ended: 10

- 31 March 2008 0 0 (1,574,998) (1,574,998)
At 31 March 2009 60,000,000 5,530,994 2,103,546 67,634,540
38
ANNUAL REPORT 2010
CONSOLIDATED
CASH FLOW STATEMENT
2010 2009
RM RM
Cash ows from operating activities

Net proft for the fnancial year 12,643,771 9,766,635

Adjustments for:
Property, plant and equipment
- depreciation 5,425,700 4,619,899
- loss on disposal 60,960 8,281
- written off 644,336 8,909
- revaluation defcit 0 27,623
Insurance claims on assets (557,000) 0
Investment properties
- depreciation 18,637 18,617
Prepaid lease rentals
- amortisation 177,847 177,845
Gain on disposal of assets held for sale (1,622,194) 0
Interest income (120,987) (62,237)
Interest expense 398,849 528,754
Unrealised foreign exchange loss 173,658 199,173
Tax charge 1,182,492 288,217
18,426,069 15,581,716
Changes in working capital:
Inventories (1,691,738) 2,196,692
Receivables (3,182,583) 3,662,209
Payables 2,252,822 (2,218,222)
Cash from operations 15,804,570 19,222,395

Tax paid (1,233,486) (1,041,803)
Tax refund 0 471,120
Net cash from operating activities 14,571,084 18,651,712

Cash ows from investing activities

Purchase of property, plant and equipment (3,868,856) (7,104,104)
Purchase of investment properties 0 (1,200)
Property development cost paid 16(a) (1,740,177) (114,942)
Proceeds from disposal of property, plant and equipment 320,015 48,280
Proceeds from insurance claims on assets 557,000 0
Proceeds from disposal of assets held for sale (net) 3,048,547 0
Interest received 120,987 62,237
Net cash used in investing activities (1,562,484) (7,109,729)
39
CONSOLIDATED
CASH FLOW STATEMENT
2010 2009
Note RM RM

Cash ows from nancing activities

Dividends paid (5,174,998) (1,574,998)
Interest paid (398,849) (528,754)
Repayment of term loans (4,221,338) (5,076,726)
Proceeds from drawdown of term loans 0 6,733,559

Net cash used in fnancing activities (9,795,185) (446,919)

Net increase in cash and cash equivalents 3,213,415 11,095,064

Foreign exchange differences (173,658) 0

Cash and cash equivalents at beginning of the nancial year 10,468,728 (626,336)
Cash and cash equivalents at end of the nancial year 26 13,508,485 10,468,728
40
ANNUAL REPORT 2010
COMPANY
CASH FLOW STATEMENT
2010 2009
Note RM RM
Cash ows from operating activities

Net proft for the fnancial year 5,704,749 1,688,616

Adjustments for:
Dividend income (6,547,860) (2,728,275)
Tax charge 335,679 616,085
(507,432) (423,574)

Changes in working capital:
Receivables (4,000) 0
Payables 38,682 (52,530)
Balance with subsidiary 4,419,875 (11,208)
Cash from/(used in) operations 3,947,125 (487,312)

Tax refund 0 22,599
Tax paid (4,085) (8,098)
Net cash from/(used in) operating activities 3,943,040 (472,811)

Cash ows from investing activity

Dividend received 1,227,724 2,046,207
Net cash from investing activity 1,227,724 2,046,207

Cash ows from nancing activity

Dividends paid (5,174,998) (1,574,998)
Net cash used in fnancing activity (5,174,998) (1,574,998)

Net decrease in cash and cash equivalents (4,234) (1,602)

Cash and cash equivalents at beginning of the nancial year 31,134 32,736
Cash and cash equivalents at end of the nancial year 26 26,900 31,134
41
NOTES TO THE
FINANCIAL STATEMENTS
1. General information
The principal activity of the Company is investment holding. The principal activities of the Group consist of
manufacturing, sales and marketing of snack food and confectioneries and property development.
The Company is a public limited liability company, incorporated and domiciled in Malaysia and listed on the Main
Market of the Bursa Malaysia Securities Berhad.
The address of the registered offce of the Company is Level 8, Symphony House, Block D13, Pusat Dagangan
Dana 1, Jalan PJU 1A/46, 47301 Petaling Jaya, Selangor Darul Ehsan.
The address of the principal place of business of the Company is No. 65, Jalan Usaha 7, Ayer Keroh Industrial
Estate, 75450 Melaka.
2. Summary of signicant accounting policies
Unless otherwise stated, the following accounting policies have been applied consistently in dealing with items
which are considered material in relation to the fnancial statements. These policies have been consistently applied
to all the years presented, unless otherwise stated.
(a) Basis of preparation
The fnancial statements of the Group and Company have been prepared in accordance with the provisions of
the Companies Act, 1965 and the MASB Approved Accounting Standards in Malaysia for Entities Other than
Private Entities.
The fnancial statements have been prepared under the historical cost convention, unless otherwise indicated
in this summary of signifcant accounting policies.

The preparation of fnancial statements in conformity with the provisions of the Companies Act, 1965 and the
MASB Approved Accounting Standards in Malaysia for Entities Other than Private Entities requires the use of
certain critical accounting estimates and assumptions that affect the reported amounts of assets and liabilities
and disclosure of contingent assets and liabilities at the date of the fnancial statements, and the reported
amounts of revenues and expenses during the reported period. It also requires Directors to exercise their
judgment in the process of applying the Groups accounting policies. Although these estimates are based on
the Directors best knowledge of current events and actions, actual results may differ.
The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are
signifcant to the fnancial statements are disclosed in Note 3.
(i) Standards, amendments to published standards and interpretations that are applicable to the
Group and are effective
There are no new accounting standards, amendments to published standards and interpretations to
existing standards effective for the Groups fnancial year ended 31 March 2010 and applicable to the
Group.
42
ANNUAL REPORT 2010
NOTES TO THE
2. Summary of signicant accounting policies (continued)

(a) Basis of preparation (continued)
(ii) Standards, amendments to published standards and interpretations to existing standards that are
applicable to the Group but not yet effective and early adopted by the Group
The revised FRS 101 Presentation of fnancial statements (effective from 1 January 2010) prohibits
the presentation of items of income and expenses (that is, non-owner changes in equity) in the
statement of changes in equity. Non-owner changes in equity are to be presented separately
from owner changes in equity. All non-owner changes in equity will be required to be shown in a
performance statement, but entities can choose whether to present one performance statement
(the statement of comprehensive income) or two statements (the income statement and statement
of comprehensive income).
Where entities restate or reclassify comparative information, they will be required to present a
restated balance sheet as at the beginning comparative period in addition to the current requirement
to present balance sheets at the end of the current period and comparative period.
It is likely that the Group and Company will present its income statement and statement of
comprehensive income as one performance statement.
FRS 139 Financial Instruments: Recognition and Measurement (effective from 1 January 2010)
establishes principles for recognising and measuring fnancial assets, fnancial liabilities and
some contracts to buy and sell non-fnancial items. Hedge accounting is permitted under strict
circumstances. The amendments to FRS 139 provide further guidance on eligible hedged items.
The amendment provides guidance for two situations. On the designation of a one-sided risk in a
hedged item, the amendment concludes that a purchased option designated in its entirety as the
hedging instrument of a one-sided risk will not be perfectly effective. The designation of infation as
a hedged risk or portion is not permitted unless in particular situations. The improvement to FRS
139 clarifes that the scope exemption in FRS 139 only applies to forward contracts but not options
for business combinations that are frmly committed to being completed within a reasonable
timeframe.
IC Interpretation 9 Reassessment of Embedded Derivatives (effective from 1 January 2010)
requires an entity to assess whether an embedded derivative is required to be separated from the
host contract and accounted for as a derivative when the entity frst becomes a party to the contract.
Subsequent reassessment is prohibited unless there is a change in the terms of the contract that
signifcantly modifes the cash fows that otherwise would be required under the contract, in which
case reassessment is required. The improvement to IC Interpretation 9 (effective from 1 July 2010)
clarifes that this interpretation does not apply to embedded derivatives in contracts acquired in a
business combination, businesses under common control or the formation of a joint venture.

FRS 7 Financial instruments: Disclosures (effective from 1 January 2010) provides information to
users of fnancial statements about an entitys exposure to risks and how the entity manages those
risks. The improvement to FRS 7 clarifes that entities must not present total interest income and
expense as a net amount within fnance costs on the face of the income statement.
The Group has applied the transitional provision in the respective standards which exempts entities
from disclosing the possible impact arising from the initial application of the following standards and
interpretations on the fnancial statements of the Group.
43
NOTES TO THE

(a) Basis of preparation (continued)
(ii) Standards, amendments to published standards and interpretations to existing standards that are
applicable to the Group but not yet effective and early adopted by the Group (continued)
- FRS 139, Amendments to FRS 139 on eligible hedged items, Improvement to FRS 139 and IC
Interpretation 9
- FRS 7 and Improvement to FRS 7
The following amendments are part of the Malaysian Accounting Standards Boards (MASB)
improvements project:
FRS 107 Statement of cash fows (effective from 1 January 2010) clarifes that only expenditure
resulting in a recognised asset can be categorised as a cash fow from investing activities.
FRS 110 Events after the balance sheet date (effective from 1 January 2010) reinforces existing
guidance that a dividend declared after the reporting date is not a liability of an entity at that date
given that there is no obligation at that time.
FRS 116 Property, plant and equipments (consequential amendment to FRS 107 Statement of
cash fows) (effective from 1 January 2010) requires entities whose ordinary activities comprise
of renting and subsequently selling assets to present proceeds from the sale of those assets
as revenue and should transfer the carrying amount of the asset to inventories when the asset
becomes held for sale. A consequential amendment to FRS 107 states that cash fows arising from
purchase, rental and sale of those assets are classifed as cash fows from operating activities.
FRS 117 Leases (effective from 1 January 2010) clarifes that the default classifcation of the land
element in a land and building lease is no longer an operating lease. As a result, leases of land
should be classifed as either fnance or operating, using the general principles of FRS 117.
FRS 118 Revenue (effective from 1 January 2010) provides more guidance when determining
whether an entity is acting as a principal or as an agent.
FRS 119 Employee benefts (effective from 1 January 2010) clarifes that a plan amendment that
results in a change in the extent to which beneft promises are affected by future salary increases
is a curtailment, while an amendment that changes benefts attributable to past service gives
rise to a negative past service cost if it results in a reduction in the present value of the defned
beneft obligation. The defnition of return on plan assets has been amended to state that plan
administration costs are deducted in the calculation of return on plan assets only to the extent that
such costs have been excluded from measurement of the defned beneft obligation.
FRS 136 Impairment of assets (effective from 1 January 2010) clarifes that the largest cash-
generating unit (or group of units) to which goodwill should be allocated for the purposes of
impairment testing is an operating segment before the aggregation of segments with similar
economic characteristics. The improvement also clarifes that where fair value less costs to sell is
calculated on the basis of discounted cash fows, disclosures equivalent to those for value in use
should be made.
The above amendments are not expected to have a material impact on the Groups fnancial statements other
than the reclassifcation of prepaid lease rentals to property, plant and equipment.

44
ANNUAL REPORT 2010
NOTES TO THE
(b) Group accounting - subsidiaries
Subsidiaries are those enterprises in which the Group has power to exercise control over the fnancial and
operating policies so as to obtain benefts from their activities, generally accompanying a shareholding of
more than one half of the voting rights. The existence and effect of potential voting rights that are currently
exercisable or convertible are considered when assessing whether the Group controls another entity.
Subsidiaries are consolidated using the purchase method of accounting except for certain subsidiaries which
were consolidated prior to 1 April 2002 using the merger method of accounting in accordance with Malaysian
Accounting Standard No. 2 Accounting for Acquisition and Mergers, the generally accepted accounting
principles prevailing at that time.
The Group has taken advantage of the exemption provided by FRS 3 to apply these Standards prospectively.
Accordingly, business combinations entered into prior to the respective effective dates have not been restated
to comply with these Standards.
Under the purchase method of accounting, subsidiaries are fully consolidated from the date on which control is
transferred to the Group and are de-consolidated from the date that control ceases. The cost of an acquisition
is measured as fair value of the assets given, equity instruments issued and liabilities incurred or assumed at
the date of exchange, plus costs directly attributable to the acquisition.

Identifable assets acquired and liabilities and contingent liabilities assumed in a business combination are
measured initially at their fair values at the acquisition date, irrespective of the extent of any minority interest.
The excess of the cost of acquisition over the fair value of the Groups share of the identifable net assets
acquired at the date of acquisition is refected as goodwill. If the cost of acquisition is less than the fair value
of the net assets of the subsidiary acquired, the difference is recognised directly in the income statement.
Minority interest represents that portion of the proft or loss and net assets of a subsidiary attributable to equity
interests that are not owned, directly or indirectly through subsidiaries, by the parent. It is measured at the
minorities share of the fair value of the subsidiaries identifable assets and liabilities at the acquisition date
and the minorities share of changes in the subsidiaries equity since that date.
Under the merger method of accounting, the results of subsidiaries are presented as if the merger had been
effected throughout the current and previous years. The assets and liabilities combined are accounted for
based on the carrying amounts from the perspective of the common control shareholder at the date of
transfer. On consolidation, the cost of the merger is cancelled with the values of the shares received. Any
resulting credit difference is classifed as equity and regarded as a non-distributable reserve. Any resulting
debit difference is adjusted against any suitable reserve.
Intragroup transactions, balances and unrealised gains on transactions between Group companies are
eliminated. Unrealised losses are also eliminated but considered an impairment indicator of the asset
transferred. Accounting policies of subsidiaries have been changed where necessary to ensure consistency
with the policies adopted by the Group.
The gain or loss on disposal of a subsidiary is the difference between the disposal proceeds and the Groups
share of its net assets as of the date of disposal including the cumulative amount of any exchange differences
that relate to the subsidiary, and is recognised in the consolidated income statement.

45
NOTES TO THE
(c) Property, plant and equipment
All property, plant and equipment are initially stated at cost. Land and building that are subsequently revalued
are stated at the revalued amounts, based on valuations by external independent valuers at regular intervals
of once every fve years, less subsequent amortisation/depreciation. All other property, plant and equipment
are stated at historical cost less accumulated depreciation/impairment.
Subsequent costs are included in the assets carrying amount or recognised as a separate asset, as appropriate,
only when it is probable that future economic benefts associated with the item will fow to the Group and
the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognised. All
other repairs and maintenance are charged to the income statement during the fnancial year in which they are
incurred.
Surpluses arising on revaluation are credited to revaluation reserve. Any defcit arising from revaluation is
charged against the revaluation reserve to the extent of a previous surplus held in the revaluation reserve for
the same asset. In all other cases, a decrease in carrying amount is charged to income statement. On disposal
of revalued assets, amounts in revaluation reserve relating to those assets are transferred to retained earnings.
Freehold land is not amortised as it has an infnite life. All other property, plant and equipment are depreciated
on the straight line basis to write off the cost of the assets over their estimated useful lives at the following
annual rates:
Buildings 5%
Plant and machinery 5% - 20%
Motor vehicles 20%
Furniture, fttings and offce equipment 10%
Depreciation on capital work in progress commences when the assets are ready for their intended use.
Residual values and useful lives of assets are reviewed, and adjusted if appropriate, at each balance sheet
date.
At each balance sheet date, the Group assesses whether there is any indication of impairment. If such indications
exist, an analysis is performed to assess whether the carrying amount of the asset is fully recoverable. A write
down is made if the carrying amount exceeds the recoverable amount. See accounting policy Note 2(h) on
impairment of assets.
Gains and losses on disposals are determined by comparing proceeds with carrying amount and are included
in the income statement. On disposal of revalued assets, amounts in revaluation reserve relating to those
assets are transferred to retained earnings.
(d) Prepaid lease rentals
Payments for rights to use land over a predetermined period are classifed as prepaid lease rentals and are
stated at cost less accumulated amortisation and accumulated impairment losses. The prepaid lease rentals
are depreciated on a straight line basis over the lease period that range from 67 to 88 years.
46
ANNUAL REPORT 2010
NOTES TO THE
(e) Investments
Investments in subsidiaries are shown at cost. Where an indication of impairment exists, the carrying amount
of the investment is assessed and written down immediately to its recoverable amount. See accounting policy
Note 2(h) on impairment of assets.
Investments in other non-current investments are shown at costs and an allowance for diminution in value
is made where, in the opinion of the Directors, there is a decline other than temporary in the value of such
investments. Where there has been a decline other than temporary in the value of an investment, such a
decline is recognised as an expense in the year in which the decline is identifed.
On disposal of an investment, the difference between net disposal proceeds and its carrying amount is
charged or credited to the income statement.
(f) Property development activities
(i) Land held for property development
Land held for property development consists of land on which no signifcant development work has
been undertaken or where development activities are not expected to be completed within the normal
operating cycle. Such land is classifed as non current asset and is stated at cost less accumulated
impairment losses.
Cost associated with the acquisition of land includes the purchase price of the land, professional fees,
stamp duties, commissions, conversion fees and other relevant levies. Where an indication of impairment
exists, the carrying amount of the asset is assessed and written down immediately to its recoverable
amount. See accounting policy Note 2(h) on impairment of assets.
Land held for property development is transferred to property development costs (under current assets)
when development activities have commenced and where the development activities can be completed
within the Groups normal operating cycle.
(ii) Property development costs
Property development costs comprise costs associated with the acquisition of land and all costs directly
attributable to development activities or that can be allocated on a reasonable basis to these activities.
Property development costs are recognised when incurred. When the outcome of the development
activity can be estimated reliably, property development revenue is recognised by using the stage of
completion method. The stage of completion is measured by reference to the proportion that property
development costs incurred bear to the estimated total costs for the property development.

When the outcome of a development activity cannot be reliably estimated, property development
revenue is recognised only to the extent of property development costs incurred that is probable will be
recoverable; property development costs on the development units sold are recognised when incurred.
Irrespective of whether the outcome of a property activity can be estimated reliably, when it is probable
that total property development costs (including expected defect liability expenditure) will exceed total
property development revenue, the expected loss is recognised as an expense immediately.
47
NOTES TO THE
(f) Property development activities (continued)
(ii) Property development costs (continued)
Property development cost not recognised as an expense is recognised as an asset and is stated at the
lower of cost and net realisable value.
Where revenue recognised in the income statement exceed billings to purchasers, the balance is shown
as accrued billings under receivables, deposits and prepayments (within current assets). Where billings
to purchasers exceed revenue recognised in the income statement, the balance is shown as progress
billings under payables (within current liabilities).
(g) Investment properties
Investment properties, comprising principally land and offce buildings, are held for long term rental yields or
for capital appreciation or both, and are not occupied by the Group.
Investment properties are stated at cost less any accumulated depreciation and impairment losses. Investment
properties are depreciated on the straight line basis to write off the cost of the assets to their residual values
over their estimated useful lives at the annual rate of 5%.
On disposal of an investment property, or when it is permanently withdrawn from use and no future economic
benefts are expected from its disposal, it shall be derecognised (eliminated from the balance sheet). The
difference between the net disposal proceeds and the carrying amount is recognised as proft or loss in the
period of the retirement or disposal.
(h) Impairment of assets
Assets that have an indefnite useful life are not subject to amortisation and are tested annually for impairment.
Assets that are subject to amortisation are reviewed for impairment whenever events or changes in
circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised
for the amount by which the carrying amount of the asset exceeds its recoverable amount. The recoverable
amount is the higher of an assets fair value less costs to sell and value in use. For the purposes of assessing
impairment, assets are grouped at the lowest levels for which there is separately identifable cash fows
(cash-generating units). Non-fnancial assets other than goodwill that suffered an impairment are reviewed for
possible reversal of the impairment at each reporting date.
The impairment loss is charged to the income statement unless it reverses a previous revaluation in which
case it is charged to the revaluation surplus. Any subsequent increase in recoverable amount is recognised
in the income statement unless it reverses an impairment loss on a revalued asset in which case it is taken to
revaluation surplus.
(i) Inventories
Inventories are stated at the lower of cost and net realisable value.
Cost of raw materials is determined using the frst in, frst out method. The cost of fnished goods and work
in progress comprises raw materials, direct labour, other direct costs and an appropriate proportion of
production overheads (based on normal operating capacity) and is determined using the weighted average
method.
Net realisable value is the estimate of the selling price in the ordinary course of business, less the costs of
completion and applicable variable selling expenses.
48
ANNUAL REPORT 2010
NOTES TO THE
(j) Income taxes
Current tax expense is determined according to the tax laws of each jurisdiction in which the Group operates
and include all taxes based upon the taxable profts.
Deferred tax is recognised in full, using the liability method, on temporary differences arising between the
amounts attributed to assets and liabilities for tax purposes and their carrying amounts in the fnancial
statements.
Deferred tax assets are recognised to the extent that it is probable that taxable proft will be available against
which the deductible temporary differences or unused tax losses can be utilised.
Deferred tax is recognised on temporary differences arising on investments in subsidiaries except where
the timing of the reversal of the temporary difference can be controlled and it is probable that the temporary
difference will not reverse in the foreseeable future.
Deferred tax is determined using tax rates (and tax laws) that have been enacted or substantially enacted
by the balance sheet date and are expected to apply when the related deferred tax asset is realised or the
deferred tax liability is settled.
(k) Foreign currencies
(i) Functional and presentation currency
Items included in the fnancial statements of each of the Groups entities are measured using the currency
of the primary economic environment in which the entity operates (the functional currency). The
fnancial statements are presented in Ringgit Malaysia, which is the Groups and Companys functional
and presentation currency.
(ii) Foreign currency transactions
Foreign currency transactions are translated into the functional currency using the exchange rates
prevailing at the dates of the transactions. Foreign exchange gains and losses resulting from the
settlement of such transactions and from the translation at year-end exchange rates of monetary assets
and liabilities denominated in foreign currencies are recognised in the income statement.
(l) Trade receivables
Trade receivables are carried at invoice amount less an allowance for doubtful debts. The allowance
is established when there is objective evidence that the Group will not be able to collect all amounts due
according to the original terms of receivables.
(m) Revenue recognition
(i) Sale of goods
Sales of goods are recognised when a group entity has delivered products to the customers, the
customers have full discretion over the channel and price to sell the products, and there is no unfulflled
obligation that could affect the customers acceptance of the products.
49
NOTES TO THE
(m) Revenue recognition (continued)
(ii) Dividend income
Dividend income is recognised when the Groups right to receive payment is established.
(iii) Interest income
Interest income is recognised on a time proportion basis, taking into account the principal outstanding
and the effective rate over the period to maturity, when it is determined that such income will accrue to
the Group.

(iv) Property development
Proft from sale of development properties is recognised on the percentage of completion basis on
units sold. The stage of completion is measured by reference to the proportion of cost incurred for work
performed to date bear to the estimated total costs for the development. When foreseeable losses on
development projects are anticipated, full provision for these losses is made in the fnancial statements.
(n) Operating leases
Leases of assets where a signifcant portion of the risks and rewards of ownership are retained by the lessor are
classifed as operating leases. Payments made under operating leases are charged to the income statement
on the straight line basis over the lease period.

(o) Cash and cash equivalents
For the purpose of the cash fow statements, cash and cash equivalents comprise cash on hand, deposits
held at call with banks, other short term, highly liquid investments with original maturities of three months or
less, and bank overdrafts. Bank overdrafts are included within borrowings in current liabilities on the balance
sheet.
(p) Share capital
(i) Classication
Ordinary shares are classifed as equity.
(ii) Dividends to shareholders of the Company
Dividends on ordinary shares are recognised as a liability when declared by the Board of Directors
before the balance sheet date. Dividends when declared by the Board of Directors after the balance
sheet date but before the fnancial statements are authorised for issue will be accounted for in the next
fnancial year.
50
ANNUAL REPORT 2010
NOTES TO THE
(q) Financial instruments
(i) Description
A fnancial instrument is any contract that gives rise to both a fnancial asset of one enterprise and a
fnancial liability or equity instrument of another enterprise.
A fnancial asset is any asset that is cash, a contractual right to receive cash or another fnancial asset
from another enterprise, a contractual right to exchange fnancial instruments with another enterprise
under conditions that are potentially favourable, or an equity instrument of another enterprise.
A fnancial liability is any liability that is a contractual obligation to deliver cash or another fnancial asset
to another enterprise, or to exchange fnancial instruments with another enterprise under conditions that
are potentially unfavourable.
(ii) Financial instruments recognised on the balance sheet
The particular recognition method adopted for fnancial instruments recognised on the balance sheet is
disclosed in the individual policy statement associated with each item.
(iii) Fair value estimation for disclosure purposes
In assessing the fair value of non-traded derivatives and fnancial instruments, the Group uses a variety
of methods and makes assumptions that are based on market conditions existing at each balance sheet
date. In particular, the fair value of fnancial liabilities is estimated by discounting the future contractual
cash fows at the current market interest rate available to the Group for similar fnancial instruments.
The face values of fnancial assets (less any estimated credit adjustments) and fnancial liabilities with
tenure to maturity of less than one fnancial year are assumed to approximate their fair values.

(r) Employee benets
(i) Short term employee benets
The Group recognises a liability and an expense for bonuses based on a formula that takes into
consideration the proft attributable to the Companys shareholders after certain adjustments. The Group
recognises a provision where contractually obliged or where there is a past practice that has created a
constructive obligation.
Wages, salaries, paid annual leave, sick leave, bonuses, and non-monetary benefts are accrued in the
period in which the associated services are rendered by employees of the Group.
(ii) Post-employment benets - dened contribution plan

The Groups post-employment beneft scheme comprises only defned contribution plan.
A defned contribution plan is a pension plan under which the Group pays fxed contributions into a
separate entity (a fund) and will have no legal or constructive obligations to pay further contributions if
the fund does not hold suffcient assets to pay all employees benefts relating to employee service in the
current and prior periods.

The Groups contributions to defned contribution plans are charged to the income statement in the
period to which they relate. Once the contributions have been paid, the Group has no further payment
obligations.
51
NOTES TO THE
(s) Contingent liabilities
The Group does not recognise a contingent liability but discloses its existence in the fnancial statements. A
contingent liability is a possible obligation that arises from past events whose existence will be confrmed by
the occurrence or non-occurrence of one or more uncertain future events beyond the control of the Group
or a present obligation that is not recognised because it is not probable that an outfow of resources will be
required to settle the obligation. A contingent liability also arises in the extremely rare case where there is a
liability that cannot be recognised because it cannot be measured reliably.
(t) Segment reporting
Segment reporting is presented for enhanced assessment of the Groups risks and returns. Business segments
provide products or services that are subject to risk and returns that are different from those of other business
segments. Geographical segments provide products or services within a particular economic environment
that is subject to risk and returns that are different from those components operating in other economic
environments.
Segment revenue, expense, assets and liabilities are those amounts resulting from the operating activities of
a segment that are directly attributable to the segment and the relevant portion that can be allocated on a
reasonable basis to the segment.
Segment revenue, expense, assets and segment liabilities are determined before intragroup balances and
intragroup transactions are eliminated as part of the consolidation process, except to the extent that such
intragroup balances and transactions are between Group enterprises within a single segment.
3. Critical accounting estimates and assumptions
Estimates and judgements are continually evaluated by the Directors and are based on historical experience and
other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The Group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by
defnition, rarely equal the related actual results. To enhance the information content of the estimates, certain key
variables that are anticipated to have material impact to the Groups results and fnancial position are tested for
sensitivity to changes in the underlying parameters. The estimates and assumptions that have a signifcant risk of
causing a material adjustment to the carrying amounts of assets and liabilities within the next fnancial year are set
below:
Depreciation of property, plant and equipment
Depreciation of all property, plant and equipment is computed on the straight-line method based on the estimated
useful lives of the various assets. This involves judgement regarding the useful lives and residual values for each
category of property, plant and equipment in which the depreciation charge has been recognised.
52
ANNUAL REPORT 2010
NOTES TO THE
4. Revenue
Group Company
2010 2009 2010 2009
RM RM RM RM

Sale of goods 125,709,885 118,440,509 0 0
Dividend income 0 0 6,547,860 2,728,275
125,709,885 118,440,509 6,547,860 2,728,275
5. Finance costs
Group
2010 2009
RM RM

Interest on bank term loans 398,537 527,972
Interest on other borrowings 312 782
398,849 528,754
6. Prot before tax
Proft before tax is arrived at after charging/(crediting):
Group Company
2010 2009 2010 2009
RM RM RM RM
Raw materials and consumables used 73,765,398 70,204,779 0 0
Changes in inventories of fnished goods and
work in progress (666,287) 806,163 0 0
Auditors remuneration
- current year 33,000 33,000 11,000 11,000
- prior years under accrual 3,500 0 0 0
Property, plant and equipment
- depreciation 5,425,700 4,619,899 0 0
- loss on disposal 60,960 8,280 0 0
- written off 644,336 8,909 0 0
- revaluation defcit 0 27,623 0 0
Investment properties
- depreciation 18,637 18,617 0 0
Prepaid lease rentals
- amortisation 177,847 177,845 0 0
Rental of buildings 145,270 160,684 0 0
Foreign exchange loss
- realised 708,372 576,199 0 0
- unrealised 173,658 199,173 0 0
53
NOTES TO THE
6. Prot before tax (continued)
Group Company
2010 2009 2010 2009
RM RM RM RM
Staff costs (including Executive Directors
emoluments other than fees)
- salaries, bonuses and allowances 10,988,478 10,268,048 0 0
- defned contribution retirement plan 1,095,799 1,073,594 0 0
- other employee benefts 902,017 908,386 0 0

12,986,294 12,250,028 0 0
Allowance for doubtful debts 0 242,176 0 0
Gain on disposal of assets held for sale (1,622,194) 0 0 0
Rental income (investment properties) (90,000) (69,500) 0 0
Interest income (120,987) (62,237) 0 0
Insurance claims on assets (557,000) 0 0 0
Gross dividend income
- unquoted subsidiary in Malaysia 0 0 (6,547,860) (2,728,275)
Cost of inventories of the Group recognised as an expense during the fnancial year amounted to RM89,477,707
(2009: RM85,798,619).
Direct operating expenses from investment properties that generated rental income of the Group during the fnancial
year amounted to RM8,613 (2009: RM8,207).

7. Directors remuneration
The aggregate amounts of emoluments receivable by Directors of the Company during the fnancial year are as
follows:
Group Company
2010 2009 2010 2009
RM RM RM RM
Non-executive Directors
- fees 80,000 80,000 80,000 80,000
- other emoluments 60,000 60,000 60,000 60,000
- defned contribution retirement plan 4,800 4,800 4,800 4,800
- estimated monetary value of benefts-in-kind 0 4,800 0 0
144,800 149,600 144,800 144,800

Executive Directors
- fees 176,000 176,000 80,000 80,000
- salaries and bonus and other emoluments 1,630,000 1,575,000 0 0
- defned contribution retirement plan 337,540 327,090 9,600 9,600
- estimated monetary value of benefts-in-kind 75,628 63,425 0 0
2,219,168 2,141,515 89,600 89,600
2,363,968 2,291,115 234,400 234,400
54
ANNUAL REPORT 2010
NOTES TO THE
8. Tax
(a) The tax charge for the fnancial year comprise:
Group Company
2010 2009 2010 2009
RM RM RM RM

Current tax
- Malaysian income tax 1,700,936 807,788 335,679 616,085
Deferred taxation (Note 22) (518,444) (519,571) 0 0
1,182,492 288,217 335,679 616,085
Current tax
Current fnancial year 1,656,759 814,953 341,000 617,000
Under/(over) accrual in prior fnancial year 44,177 (7,165) (5,321) (915)
1,700,936 807,788 335,679 616,085

Deferred taxation
(Reversal)/origination of temporary
differences (net) (609,279) 343,968 0 0
Under/(over) accrual in prior year 90,835 (863,539) 0 0
(518,444) (519,571) 0 0
1,182,492 288,217 335,679 616,085
(b) Numerical reconciliation of tax expense
The explanation of the relationship between the tax charge and proft before tax is as follows:
Group Company
2010 2009 2010 2009
RM RM RM RM

Proft before tax 13,826,263 10,054,852 6,040,428 2,304,701
Tax calculated at the Malaysian tax rate
of 25% (2009: 25%) 3,456,567 2,513,713 1,510,107 576,175
Tax effects of:
- expenses not deductible for tax purposes 262,796 237,740 58,863 40,877
- income not subject to tax (49,793) 0 (1,227,724) 0
- utilisation of tax incentives (837,688) (262,415) 0 0
- reinvestment allowance arising from
current years acquisition of assets (1,778,533) (1,329,572) 0 0
- others (5,869) (545) (246) (52)
Under/(over) accrual in prior years 135,012 (870,704) (5,321) (915)
Tax charge 1,182,492 288,217 335,679 616,085
55
NOTES TO THE
9. Earnings per share
The earnings per share of the Group is calculated based on the net proft attributable to shareholders of RM12,400,908
(2009: RM9,767,976) and on the number of ordinary shares in issue during the fnancial year of 60,000,000 (2009:
60,000,000).
10. Dividends
(a) Dividends paid in respect of ordinary shares by the Company are as follows:
Group and Company
2010 2009
Gross Amount of Gross Amount of
dividend dividend, dividend dividend,
per share net of tax per share net of tax
sen RM sen RM
In respect of the fnancial year
ended 31 March 2009/2008:
- fnal dividend 3.5 1,574,998 3.5 1,574,998
In respect of the fnancial year
ended 31 March 2010:
- frst interim dividend 2.0 1,200,000 0 0
- second interim dividend 2.0 1,200,000 0 0
- third interim dividend 2.0 1,200,000 0 0
9.5 5,174,998 3.5 1,574,998
(b) Dividends declared or proposed in respect of ordinary shares by the Company are as follows:
Group and Company
2010 2009
Gross Amount of Gross Amount of
dividend dividend, dividend dividend,
per share net of tax per share net of tax
sen RM sen RM

First interim dividend paid 2.0 1,200,000 0 0
Second interim dividend paid 2.0 1,200,000 0 0
Third interim dividend paid 2.0 1,200,000 0 0
Proposed fnal dividend 4.0 2,100,000 3.5 1,574,998
10.0 5,700,000 3.5 1,574,998
On 27 May 2010, the Directors proposed, subject to the approval of the members at the forthcoming Annual
General Meeting of the Company, a fnal tax exempt dividend of 2 sen per share and a gross dividend of 2 sen
per share less income tax at 25%, amounting to RM2,100,000 for the fnancial year ended 31 March 2010.

56
ANNUAL REPORT 2010
NOTES TO THE
11. Property, plant and equipment
Buildings Buildings Furniture,
on long on ttings Capital
Freehold leasehold freehold Plant and Motor and ofce work in
land land land machinery vehicles equipment progress Total
Group - 2010 RM RM RM RM RM RM RM RM

Net book
value as
at 1 April
2009 1,150,000 16,249,435 348,330 35,462,893 2,372,191 5,060,844 12,991,305 73,634,998
Additions 0 0 0 760,352 2,318,473 503,391 286,640 3,868,856
Disposals 0 0 0 0 (377,950) (3,025) 0 (380,975)
Write-off 0 0 0 (12,679) (630,235) (1,422) 0 (644,336)
Reclassifcation 0 0 0 12,684,965 0 233,776 (12,918,741) 0
Depreciation
charge 0 (1,051,393) (21,875) (3,077,358) (361,320) (913,754) 0 (5,425,700)
Net book
value as
at 31 March
2010 1,150,000 15,198,042 326,455 45,818,173 3,321,159 4,879,810 359,204 71,052,843
2010

At cost 0 0 0 80,137,143 6,557,956 11,000,795 359,204 98,055,098
At valuation 1,150,000 16,360,000 350,000 0 0 0 0 17,860,000
Accumulated
depreciation 0 (1,161,958) (23,545) (34,318,970) (3,236,797) (6,120,985) 0 (44,862,255)
Net book
value 1,150,000 15,198,042 326,455 45,818,173 3,321,159 4,879,810 359,204 71,052,843
57
NOTES TO THE
11. Property, plant and equipment (continued)
Buildings Buildings Furniture,
on long on ttings Capital
Freehold leasehold freehold Plant and Motor and ofce work in
land land land machinery vehicles equipment progress Total
Group - 2009 RM RM RM RM RM RM RM RM
Net book
value as
at 1 April
2008 911,381 12,705,648 403,011 30,003,697 2,698,660 5,225,498 14,801,835 66,749,730
Additions 0 112,446 0 1,463,827 64,531 712,543 4,750,757 7,104,104
Disposals 0 0 0 0 (56,561) 0 0 (56,561)
Write-off 0 0 0 0 0 (8,909) 0 (8,909)
Reclassifcation 0 0 0 6,561,287 0 0 (6,561,287) 0
Revaluation
surplus/(defcit)
- transfer to
revaluation
reserve
(Note 24) 238,619 4,255,537 0 0 0 0 0 4,494,156
- charge to
income
statement 0 0 (27,623) 0 0 0 0 (27,623)
Depreciation
charge 0 (824,196) (27,058) (2,565,918) (334,439) (868,288) 0 (4,619,899)
Net book
value as
at 31 March
2009 1,150,000 16,249,435 348,330 35,462,893 2,372,191 5,060,844 12,991,305 73,634,998
2009

At cost 0 0 0 66,722,778 6,173,562 10,281,448 12,991,305 96,169,093
At valuation 1,150,000 16,360,000 350,000 0 0 0 0 17,860,000
Accumulated
depreciation 0 (110,565) (1,670) (31,259,885) (3,801,371) (5,220,604) 0 (40,394,095)
Net book
value 1,150,000 16,249,435 348,330 35,462,893 2,372,191 5,060,844 12,991,305 73,634,998
Land and buildings were revalued in February 2009 by an independent qualifed valuer to refect fair value for
existing use.
The book values of land and buildings were adjusted to refect the revaluations and the resultant surpluses were
credited to revaluation reserve while defcits were charged against the revaluation reserve to the extent of a previous
surplus held in the revaluation reserve for the same asset. In all other cases, a decrease in carrying amount is
charged to the income statement.
58
ANNUAL REPORT 2010
NOTES TO THE
11. Property, plant and equipment (continued)
Had the land and buildings been included in the fnancial statements at cost less depreciation, the net book value
of the revalued assets would have been as follows:
Group
2010 2009
RM RM
Freehold land 911,381 911,381
Buildings on long leasehold land 8,507,892 9,097,464
Buildings on freehold land 351,941 375,648
12. Prepaid lease rentals
At beginning of fnancial year 13,174,079 13,351,924
Amortisation charge (177,847) (177,845)

At end of fnancial year 12,996,232 13,174,079
13. Investment properties
Net book value
At beginning of fnancial year 927,446 944,863
Additions 0 1,200
Depreciation charge (18,637) (18,617)

At end of fnancial year 908,809 927,446
At cost 1,049,034 1,049,034
Accumulated depreciation (140,225) (121,588)

Net book value 908,809 927,446
The Directors are of the opinion that the fair values of the investment properties as of 31 March 2010 amounted
to RM1,465,000 (2009: RM1,443,000) based on comparisons with current prices in an active market for similar
properties in the same locations and conditions and subject to similar leases and other contracts.

14. Subsidiaries
Company
2010 2009
RM RM

Unquoted shares in corporations, at cost 38,868,751 38,868,751
59
NOTES TO THE
14. Subsidiaries (continued)
Details of the subsidiaries which are all incorporated in Malaysia are as follows:

Groups
Name of company Principal activities effective interest
2010 2009
% %
Oriental Food Industries Manufacturing and marketing of 100 100
Sdn. Bhd. snack food and confectioneries
OFI Properties Sdn. Bhd. Property development 80 80
Held through 100% ownership by
Oriental Food Industries Sdn. Bhd.
- Oriental Food Marketing (M) Sale and marketing of snack food
Sdn. Bhd. and confectioneries 100 100
15. Investments
Group
2010 2009
RM RM

Unquoted shares in a corporation, at cost 372,438 372,438
16 (a) Property development cost
At beginning of fnancial year
- land 4,755,926 5,867,103
- development cost 368,920 340,173

5,124,846 6,207,276
Cost incurred during the fnancial year
- land 1,201,065 0

1,740,177 114,942

Reclassifed to assets held for sale (228,981) (1,197,372)
At end of fnancial year
- land 5,729,520 4,755,926

6,636,042 5,124,846

Included in development costs in the previous fnancial year was borrowing cost of RM12,997, arising on
funds borrowed generally for property development activities which was capitalised by applying the borrowing
rate of 5% per annum. There is no borrowing cost being capitalised during the current fnancial year.
60
ANNUAL REPORT 2010
NOTES TO THE
16 (b) Property development cost
Group
2010 2009
RM RM
At beginning of fnancial year 1,197,372 0
Reclassifed from property development cost 228,981 1,197,372
Disposal during the fnancial year (1,426,353) 0
At end of fnancial year 0 1,197,372
17. Inventories

Raw materials 10,675,723 9,650,272
Work in progress 581,927 517,808
Finished goods 2,770,021 2,167,853
14,027,671 12,335,933
18. Trade and other receivables
Group Company
2010 2009 2010 2009
RM RM RM RM

Trade receivables 14,522,137 13,093,105 0 0
Less: Allowance for doubtfuldebts (1,034,896) (1,034,896) 0 0
13,487,241 12,058,209 0 0

Deposits and prepayments 923,062 774,122 8,000 4,000
Other receivables 184,931 153,610 0 0
Downpayment for purchase of property, plant
and equipment 1,841,515 268,225 0 0
16,436,749 13,254,166 8,000 4,000
Credit terms of trade receivables of the Group range from payment in advance to 120 days (2009: payment in
advance to 120 days).
Included in deposits and prepayments is an amount of RM557,403 (2009: Nil), being prepayment for the purchase
of a motor vehicle.

61
NOTES TO THE
19. Amounts receivable from subsidiaries
The amounts receivable from subsidiaries are denominated in Ringgit Malaysia, unsecured, interest free and have
no fxed terms of repayment.
20. Trade and other payables
Group Company
2010 2009 2010 2009
RM RM RM RM

Trade payables and accruals 9,199,481 6,987,135 49,902 11,220
Proposed Directors fees 160,000 160,000 160,000 160,000
Other payables 283,309 242,833 0 0
9,642,790 7,389,968 209,902 171,220
Credit terms of trade payables granted to the Group vary from cash term to 90 days (2009: cash term to 90
days).
21. Borrowings (interest bearing)
Group
2010 2009
RM RM
Current unsecured
Bank overdraft 567,624 0
Bank term loans 2,951,394 4,056,193
3,519,018 4,056,193
Non current unsecured
Bank term loans 5,046,454 8,162,993
8,565,472 12,219,186
Total unsecured
Bank overdraft 567,624 0
Bank term loans 7,997,848 12,219,186
8,565,472 12,219,186
Term loans are repayable by 36 to 60 equal monthly instalments effective from the various drawndown dates.
Interest is chargeable at rates ranging from 1.40% to 4.55% (2009: 2.45% to 5.15%) per annum during the fnancial
year.
Interest on bank overdraft was chargeable at 8.55% (2009: 8.30%) per annum during the fnancial year.
62
ANNUAL REPORT 2010
NOTES TO THE
22. Deferred tax liabilities
Group
2010 2009
RM RM
Deferred tax liabilities
- subject to income tax 4,202,869 4,721,313

At beginning of the fnancial year 4,721,313 4,177,000

Arising from revaluation during the fnancial year (Note 24) 0 1,063,884

(Credited)/charged to income statement (Note 8)
- property, plant and equipment 1,155,984 810,001
- reinvestment allowance (1,674,428) (1,329,572)
(518,444) (519,571)
At end of the fnancial year 4,202,869 4,721,313

Deferred tax assets (before offsetting)

Unutilised reinvestment allowance 6,254,000 4,579,572
Set off (6,254,000) (4,579,572)
Deferred tax assets (after offsetting) 0 0

Deferred tax liabilities (before offsetting)

Property, plant and equipment 10,456,869 9,300,885
Set off (6,254,000) (4,579,572)
Deferred tax liabilities (after offsetting) 4,202,869 4,721,313
23. Share capital
Group and Company
2010 2009
Number of Number of
ordinary ordinary
shares of Nominal shares of Nominal
RM1 each value RM1 each value
RM RM
Authorised:
At beginning/end of fnancial year 100,000,000 100,000,000 100,000,000 100,000,000
Issued and fully paid:
At beginning/end of fnancial year 60,000,000 60,000,000 60,000,000 60,000,000
63
NOTES TO THE
24. Revaluation reserve
Group
2010 2009
RM RM

At beginning of the fnancial year 9,959,616 6,529,344

Arising from revaluation during the fnancial year
- gross (Note 11) 0 4,494,156
- tax (Note 22) 0 (1,063,884)
0 3,430,272
At end of the fnancial year 9,959,616 9,959,616
25. Retained earnings
Under the single-tier system which came into effect from the year of assessment 2008, the Company is not required
to have tax credits under Section 108 of the Income Tax Act, 1967 for dividend payment purposes.
Companies with Section 108 credits as at 31 December 2007 may continue to pay franked dividends until the
Section 108 credits are exhausted or 31 December 2013 whichever is earlier unless the Company opts to disregard
the Section 108 credits to pay single-tier dividends under the special transitional provisions of the Finance Act,
2007. As at 31 March 2010, the Company has not elected to switch to the single-tier dividend system.
As at 31 March 2010, subject to agreement with the tax authorities, the Company has suffcient Section 108 tax
credits and tax exempt income to pay in full all (2009: all) of its retained earnings as franked and exempt dividends.
26. Cash and cash equivalents
Group Company
2010 2009 2010 2009
RM RM RM RM
Fixed deposits with licensed banks 7,144,050 3,557,437 0 0
Cash and bank balances 6,932,059 6,911,291 26,900 31,134
Bank overdraft (Note 21) (567,624) 0 0 0
13,508,485 10,468,728 26,900 31,134

64
ANNUAL REPORT 2010
NOTES TO THE
27. Segmental reporting
(a) Primary reporting format business segments
The Group is organised into two main business segments:
(i) Snack food and confectioneries - manufacture and marketing of a range of snack food and confectioneries.
(ii) Property development - development of land into commercial buildings.
Snack food and Property
confectioneries development Eliminations Group
2010 RM RM RM RM

Sales

External sales 125,709,885 0 0 125,709,885
Results

Segment results (external) 12,492,614 1,611,511 0 14,104,125

Unallocated income (net) 120,987

Finance cost (398,849)
Proft before tax 13,826,263

Tax expense (1,182,492)

Net proft for the fnancial year 12,643,771
Other information

Segment assets 126,440,830 6,692,075 (4,142,500) 128,990,405
Unallocated assets 7,686,211

Total assets 136,676,616

Segment liabilities 17,939,677 4,411,085 (4,142,500) 18,208,262
Unallocated liabilities 4,606,369
Total liabilities 22,814,631

Capital expenditure 3,868,856 0 0 3,868,856

Depreciation and amortisation 5,622,184 0 0 5,622,184

65
NOTES TO THE
27. Segmental reporting (continued)
(a) Primary reporting format business segments (continued)
Snack food and Property
confectioneries development Eliminations Group
2009 RM RM RM RM

Sales

External sales 118,440,509 0 0 118,440,509
Results

Segment results (external) 10,528,076 (6,707) 0 10,521,369

Unallocated income (net) 62,237

Finance cost (528,754)
Proft before tax 10,054,852

Tax expense (288,217)

Net proft for the fnancial year 9,766,635
Other information

Segment assets 125,580,997 6,341,634 (5,362,500) 126,560,131
Unallocated assets 4,163,548

Total assets 130,723,679

Segment liabilities 19,604,194 5,367,460 (5,362,500) 19,609,154
Unallocated liabilities 4,721,313
Total liabilities 24,330,467

Capital expenditure 7,105,304 0 0 7,105,304

Depreciation and amortisation 4,816,361 0 0 4,816,361

Unallocated income includes interest income and dividend from other investments. Segment assets consist
primarily of property, plant and equipment, inventories, receivables and operating cash, and mainly exclude
fxed deposits, investments and deferred tax assets. Segment liabilities comprise operating liabilities and
exclude items such as taxation and certain corporate borrowings.
Capital expenditure comprises additions to property, plant and equipment, prepaid lease rentals, investment
properties and intangible assets.
66
ANNUAL REPORT 2010
NOTES TO THE
27. Segmental reporting (continued)
(b) Secondary reporting format - geographical segments
The Groups business segments are in the following geographical areas:
Sales Total assets Capital expenditure
2010 2009 2010 2009 2010 2009
RM RM RM RM RM RM

Malaysia 66,674,852 60,709,228 136,676,616 130,723,679 3,868,856 7,105,304
Asia 40,006,341 36,397,272 0 0 0 0
Middle East 9,763,457 10,654,050 0 0 0 0
Africa 3,394,114 5,449,647 0 0 0 0
Europe 1,329,134 2,240,737 0 0 0 0
America 1,419,920 1,691,913 0 0 0 0
Others 3,122,067 1,297,662 0 0 0 0
125,709,885 118,440,509 136,676,616 130,723,679 3,868,856 7,105,304
In determining the geographical segments of the Group, sales are based on the country in which the customer
is located. There are no sales between segments. Total assets and capital expenditure are determined based
on where the assets are located.
28. Capital commitments
Group
2010 2009
RM RM

Authorised by Directors, contracted but not provided for
- for purchase of property, plant and equipment 5,935,829 3,182,998
29. Contingent liabilities (unsecured)
The Company has given guarantees to banks amounting to RM33,046,076 (2009: RM33,046,076) for banking
facilities extended to subsidiaries of which RM8,565,472 (2009: RM12,219,186) was outstanding as at 31 March
2010.

30. Signicant related party disclosures
The following transactions were carried out with related parties:
(a) Sale of goods
Group
2010 2009
RM RM

Sale of goods to Syarikat Perniagaan Chong Mah 4,129,816 4,333,064
67
NOTES TO THE
30. Signicant related party disclosures (continued)
(a) Sale of goods (continued)
Syarikat Perniagaan Chong Mah, a company incorporated in Malaysia, is a substantial shareholder holding
12.05% shares in the Company. The company is controlled by Lim Keat Sear, a director and major shareholder
of the Company and persons connected with him.
The transactions with this related party are conducted in accordance with the general mandate obtained from
shareholders for recurrent related party transactions.
(b) Key management compensation
The Company defnes its Executive Directors as key management, hence the disclosure of key management
compensation is similar to the Directors remuneration as disclosed in Note 7 to the fnancial statements.
(c) Year-end balances arising from sale of goods
Group
2010 2009
RM RM
Receivables from
- Syarikat Perniagaan Chong Mah 331,493 335,694
The balance with this related party is trade in nature, interest free and receivable within normal terms of trade.
31. Financial risk management objectives and policies
The Groups activities to a certain extent are exposed to various fnancial risks, amongst them are foreign currency
exchange risk, interest rate risk, credit risk, liquidity and cash fow risk. The fnancial risk management objective is
formulated to ensure that the Group maximises value for its shareholders. The Group focuses on the unpredictability
of fnancial markets and seeks to minimise potential adverse effects on the fnancial performance of the Group.
Financial risk management is carried out through risk reviews, internal control systems and adherence to Group
fnancial risk management policies. Management regularly reviews these risks to keep abreast with the changing
market conditions.
(i) Foreign currency exchange risk
The Group is exposed to currency risk as a result of the foreign currency transactions entered into by a
subsidiary in currencies other than Ringgit Malaysia. The Group uses cash fow generated from receivables
denominated in foreign currencies to limit their exposure to foreign currency payables.
68
ANNUAL REPORT 2010
NOTES TO THE
31. Financial risk management objectives and policies (continued)
(i) Foreign currency exchange risk (continued)
As at 31 March 2010, there is no outstanding forward contract. In the previous fnancial year, settlement dates
on open forward contracts ranged between 1 to 2 months. The foreign currency amounts to be received and
contractual rates as at 31 March 2009 are as follows:
Currency to Currency RM Contractual
Hedged item be received to be paid equivalent rate
Receivables
- USD100,000 RM USD 363,020 1 USD = RM3.6302

Future sales over next 1 to 2 months
- USD100,000 RM USD 363,020 1 USD = RM3.6302
The net unrecognised loss on open contracts as at 31 March 2009 which hedge anticipated future foreign
currency sales amounted to RM2,130. This net exchange loss was deferred until the related sales were
transacted, at which time they were included in the measurement of such transactions.
The currency exposure of fnancial assets and fnancial liabilities of the Company at balance sheet date is set
out below.
Currency exposure Currency exposure
at 31.3.2010 at 31.3.2009
Singapore Hong Kong
US Dollar Dollar Others US Dollar Dollar Others
RM RM RM RM RM RM
Functional currency
Ringgit Malaysia
Trade receivables 2,717,826 224,276 36,728 2,278,212 32,610 144,659
Cash and bank
balances 5,013,129 0 172,172 4,031,916 0 68,870
Trade payables (292,068) (129,864) (649,443) (155,458) 0 (268,324)
Term loans (1,901,973) 0 0 (2,658,060) 0 0
Unhedged 5,536,914 94,412 (440,543) 3,496,610 32,610 (54,795)
Forward contracts:
- receivables 0 0 0 (363,020) 0 0
Net unhedged 5,536,914 94,412 (440,543) 3,133,590 32,610 (54,795)
69
NOTES TO THE
(ii) Interest rate risk
The Groups exposure to interest rate risk is minimal as the Group is not heavily geared.
The net exposure of fnancial assets and liabilities of the Group to interest rate cash fow risk at balance sheet
date is as follows:
Functional Effective Floating
currency/ interest Total interest
currency at balance carrying rate Fixed interest rate
exposure sheet date amount <1 year < 1 year 1 - 5 years
Financial instruments % per annum RM RM RM RM
As at 31 March 2010
Fixed deposits RM/RM 1.80 7,144,050 0 7,144,050 0
Term loans RM/RM 4.55 (6,095,875) 0 (2,413,443) (3,682,432)
Term loan RM/USD 1.40 (1,901,973) (1,901,973) 0 0
Bank overdraft RM/ RM 8.55 (567,624) (567,624) 0 0
(1,421,422) (2,469,597) 4,730,607 (3,682,432)
As at 31 March 2009
Fixed deposits RM/RM 2.44 3,557,437 0 3,557,437 0
Term loans RM/RM 4.55 (9,561,126) 0 (3,468,085) (6,093,041)
Term loan RM/USD 2.45 (2,658,060) (2,658,060) 0 0
(8,661,749) (2,658,060) 89,352 (6,093,041)
(iii) Credit risk
Management has a credit policy in place and the exposure to credit is monitored on an ongoing basis. Credit
evaluations are performed on all customers requiring credit.
The Group has no signifcant concentration of credit risk except that the majority of its deposits are placed
with major fnancial institutions in Malaysia. In addition, the Company has given guarantees for bank facilities
to a subsidiary (Note 29). The Directors are of the view that such credit risk is minimal in view of the stability
of the subsidiarys fnancial position.
Concentration of credit risk with respect to trade receivables is limited due to the Groups large number of
customers, who are dispersed and have a variety of end markets in which they sell. The Groups historical
experience in collection of accounts receivables falls within the recorded allowances. Due to these factors,
management believes that no additional credit risk beyond amounts of allowance for collection losses is
inherent in the Groups trade receivables.
70
ANNUAL REPORT 2010
NOTES TO THE
(iv) Liquidity and cash ow risk
The objective of sound and prudent liquidity management is to ensure that funds will be available at all times
to honour all cash outfow obligations as they become due. Since liquidity risk is closely linked to credit risk,
the previously mentioned credit risk control mechanisms apply to the monitoring and managing of liquidity
risk.
(v) Fair values
The carrying amounts of fnancial assets and liabilities of the Group at the balance sheet date approximated
their fair values except as set out below:
Group
Carrying Fair
amount value
RM RM
As at 31 March 2010

Investment properties (Note 13) 908,809 1,465,000
Fixed interest rate term loans 6,095,875 5,649,997
As at 31 March 2009
Investment properties (Note 13) 927,446 1,443,000
Fixed interest rate term loans 9,561,126 8,662,187

The method by which fair value information was determined and any signifcant assumptions made in its
application are as follows:
borrowings other than bank overdrafts - future contractual cash fows discounted at current market
interest rates available for similar fnancial instruments.
investment properties based on directors valuation on comparisons with current prices in an active
market for similar properties in the same locations and conditions and subject to similar leases and other
contracts.
32. Approval of nancial statements
The fnancial statements have been approved for issue in accordance with a resolution of the Board of Directors on
1 June 2010.
71
ANALYSIS OF
SHAREHOLDINGS
AS AT 9 JULY 2010
Authorised Share Capital : RM100,000,000
Issued and Fully Paid-up : RM60,000,000
Class of Shares : Ordinary Shares of RM1.00 each
Voting Rights : One (1) Vote Per Ordinary Share
Distribution of Shareholders
Size of Shareholdings No. of Shareholders % No. of Shares %
Less than 100 20 1.43 740 0.00
100 - 1,000 177 12.68 133,860 0.22
1,001 - 10,000 923 66.12 3,673,450 6.12
10,001 - 100,000 233 16.69 7,052,828 11.76
100,001 - less than 5% of issued shares 41 2.94 22,600,692 37.67
5% and above of issued shares 2 0.14 26,538,430 44.23
1,396 100 60,000,000 100
List of Thirty Largest Shareholders
No. Name of Shareholders Total No. of
Shares Held %
1 Son Chen Chuan 18,107,383 30.18
2 Syarikat Perniagaan Chong Mah Sdn Bhd 8,431,047 14.05
3 Thung Shung (M) Sdn Bhd 2,889,177 4.82
4 Hoo Beng Lee 2,734,921 4.56
5 Chen Kwok Ming 1,532,762 2.55
6 Son Tong Eng 1,290,124 2.15
7 Cimsec Nominees (Tempatan) Sdn Bhd 1,000,000 1.67
CIMB Bank for Koh Kin Lip
8 Son Tong Leong 980,175 1.63
9 Lim Siew Guat 913,700 1.52
10 Lee Siew Geok 858,521 1.43
11 Cimsec Nominees (Tempatan) Sdn Bhd 841,000 1.40
CIMB Bank for Rickoh Corporation Sdn Bhd
12 Public Nominees (Tempatan) Sdn Bhd 828,000 1.38
Pledged securities account for Lim Hwa Yu
13 Summer Legend Sdn Bhd 826,300 1.38
14 Lim Keat Sear 733,753 1.22
15 Lee Tack Ann 615,000 1.03
16 Chew Tee Yong 425,900 0.71
17 Son Mei Chin 399,800 0.67
72
ANNUAL REPORT 2010
ANALYSIS OF
SHAREHOLDINGS
AS AT 9 JULY 2010
List of Thirty Largest Shareholders (continued)
No. Name of Shareholders Total No. of
Shares Held %
18 Son Kee Geok 397,224 0.66
19 Tan Song Cheng 350,000 0.58
20 Malacca Equity Nominees (Tempatan) Sdn Bhd 326,000 0.54
Pledged securities account for Son Tong Leong
21 Cimsec Nominees (Tempatan) Sdn Bhd
CIMB Bank for Hoo Beng Lee 300,000 0.50
22 Malacca Equity Nominees (Tempatan) Sdn Bhd 300,000 0.50
Pledged securities account for Hoo Beng Lee
23 Summer Legend Sdn Bhd 293,400 0.49
24 HLG Nominee (Tempatan) Sdn Bhd 281,000 0.47
Pledged Securities Account for Koo Jon Mean @ Koh Jon Mean
25 Son Chew Pheng 276,200 0.46
26 DB (Malaysia) Nominees (Asing) Sdn Bhd 275,000 0.46
Exempt An For British And Malayan Trustees Limited (Yeoman 3-Right)
27 Ong Chin Chien 225,800 0.38
28 Poon Yin Leng 224,400 0.37
29 Chan Swee Huat 207,700 0.35
30 Public Invest Nominees (Tempatan) Sdn Bhd 203,000 0.34
Pledged Securities Account for Yoong Fui Kien
Substantial Shareholders (excluding bare trustee)
Name Direct Indirect
No. of Shares % No. of Shares %
Son Chen Chuan 18,107,383 30.18 8,128,044
(1)
13.55
Syarikat Perniagaan Chong Mah Sdn Bhd 8,431,047 14.05 2,462,853
(9)
4.10
Hoo Beng Lee 3,334,921 5.06 22,900,506
(2)
38.17
Thung Shung (M) Sdn Bhd 2,889,177 4.82 3,120,974
(10)
5.20
Lim Keat Sear 733,753 1.22 11,524,524
(3)
19.21
Lee Tack Ann 615,000 1.03 12,182,645
(12)
20.30
Son Tong Leong 1,306,175 2.18 24,929,252
(4)
41.55
Son Tong Eng 1,290,124 2.15 23,825,603
(5)
39.71
Son Kee Geok 397,224 0.66 24,714,603
(6)
41.19
Son Chew Pheng 276,200 0.46 24,835,627
(6)
41.39
Son Mei Chin 399,800 0.67 24,712,027
(6)
41.19
Lim Keit Sen 200,400 0.33 9,164,800
(7)
15.27
Lim Siew Guat 913,700 1.52 11,320,224
(8)
18.87
Lee Siew Geok 858,521 1.43 3,504,177
(11)
5.84
Apendo Capital Sdn Bhd 3,900 0.01 25,387,356
(13)
42.31
Summer Legend Sdn Bhd 1,119,700 1.87 22,748,479
(14)
37.91
73
ANALYSIS OF
SHAREHOLDINGS
AS AT 9 JULY 2010
Notes:
(1)
Deemed interested by virtue of his directorship in Summer Legend Sdn Bhd, substantial shareholdings in Apendo Capital
Sdn Bhd and shares held by his brother and children.
(2)
Sdn Bhd and shares held by his brother, nephews and nieces.
(3)
Deemed interested by virtue of his controlling shareholdings in Syarikat Perniagaan Chong Mah Sdn Bhd, Thung Shung
(M) Sdn Bhd, Apendo Capital Sdn Bhd and shares held by his brother, Mr Lim Keit Sen.
(4)
Sdn Bhd and shares held by his father, uncle, brother and sisters.
(5)
Deemed interested by virtue of his substantial shareholdings in Apendo Capital Sdn Bhd and shares held by his father,
uncle, brother and sisters.
(6)
Deemed interested by virtue of shares held by her family members.
(7)
Deemed interested by virtue of his substantial shareholdings in Syarikat Perniagaan Chong Mah Sdn Bhd and shares held
by his brother, Mr. Lim Keat Sear.
(8)
Deemed interested by virtue of her substantial shareholding in Syarikat Perniagaan Chong Mah Sdn Bhd and Thung Shung
(M) Sdn Bhd.
(9)
Deemed interested by virtue of Mr. Lim Keat Sear, Mr. Lee Tack Ann, Mr. Lim Keit Sen and Ms. Lim Siew Guats
shareholdings in OFIH.
(10)
Deemed interested by virtue of Mr. Lim Keat Sear, Mr. Lee Tack Ann, Ms. Lim Siew Guat and Ms. Lee Siew Geoks
shareholdings in OFIH.
(11)
Deemed interested by virtue of her controlling shareholdings in Thung Shung (M) Sdn Bhd and shares held by her brother,
Mr. Lee Tack Ann in OFIH.
(12)
Deemed interested by virtue of her controlling shareholdings in Syarikat Perniagaan Chong Mah Sdn Bhd, Thung Shung
(M) Sdn Bhd, Apendo Capital Sdn Bhd and shares held by his sister, Ms. Lee Siew Geok in OFIH.
(13)
Deemed interested by virtue of Mr. Son Chen Chuan, Mr. Hoo Beng Lee, Mr. Son Tong Leong, Mr. Son Tong Eng, Mr. Lim
Keat Sear and Mr. Lee Tack Anns shareholdings in OFIH.
(14)
Deemed interested by virtue of Mr. Son Chen Chuan, Mr. Hoo Beng Lee and Mr. Son Tong Leongs shareholdings in OFIH.
Directors Shareholdings
Name Direct Indirect
No. of Shares % No. of Shares %
Tan Sri Dato Azizan bin Husain - - - -
Son Chen Chuan 18,107,383 30.18 8,128,044
(1)
13.55
Hoo Beng Lee 3,334,921 5.06 22,900,506
(2)
38.17
Lim Keat Sear 733,753 1.22 11,524,524
(3)
19.21
Son Tong Leong 1,306,175 2.18 24,929,252
(4)
41.55
Son Tong Eng 1,290,124 2.15 23,825,603
(5)
39.71
Lim Hwa Yu 828,000 1.38 - -
Datuk Jeffery Ong Cheng Lock - - - -
Notes:
(1)
Sdn Bhd and shares held by his brother and children.
(2)
Sdn Bhd and shares held by his brother, nephews and nieces.
(3)
Deemed interested by virtue of his controlling shareholdings in Syarikat Perniagaan Chong Mah Sdn Bhd and Thung
Shung (M) Sdn Bhd, Apendo Capital Sdn Bhd and shares held by his brother, Mr Lim Keit Sen;
(4)
Sdn Bhd and shares held by his father, uncle, brother and sisters.
(5)
Deemed interested by virtue of his substantial shareholdings in Apendo Capital Sdn Bhd and shares held by his father,
uncle, brother and sisters.
74
ANNUAL REPORT 2010
LIST OF
PROPERTIES
No. Description, Existing Use, Location Land Area Tenure Date of Net Book
Age of Building and Built (Square Acquisition Value as at
Up Area Metres) 31.03.2010
(RM)

1 Factory complex, warehouse No. 65, Jalan Usaha 7, 40,660 Leasehold 24 Aug 2000 16,639,369
and offce block with a total Ayer Keroh Industrial Estate, (99 years)
built up area of approximately 75450 Melaka expiring on
10,660 square metres. The 30 May 2072
age of the buildings range
from 10 to 11 years
(1)

2 Factory complex with a total Plot No. 96A & 96B, 9,519 Leasehold 25 Nov 1993 4,443,133
built up area of approximately Jalan Usaha 7, (99 years) (Plot No. 93A)
5,088.60 square metres. The Ayer Keroh Industrial Estate, expiring on 12 Nov 1990
age of the building range from 75450 Melaka 2 September 2078 (Plot No. 93B)
11 to 13 years & 13 January 2080
respectively

3 Factory complex with a built No. 127-C, Jalan Usaha 9, 7,564 Leasehold 9 Sept 1998 2,763,259
up area of approximately Ayer Keroh Industrial Estate, (99 years)
4,153.2 square metres. The 75450 Melaka expiring on
age of the buildings are 4 May 2082
approximately 22 years

4 2 units of semi detached No. 85 & 86, 4,140 Leasehold 8 Sept 1986 1,428,376
factory buildings with a total Ayer Keroh Industrial Estate, (99 years) (No. 85)
built up area of approximately 75450 Melaka. expiring on 1980
1,587 square metres. The 30 May 2072 (No. 86)
age of the buildings are

5 Vacant Industrial Land Lot No. 7521 (Plot 5), 19,066 Leasehold 10 Aug 1991 2,548,517
Ayer Keroh Industrial Estate, (99 years)
Phase 4, 75450 Melaka. expiring on
24 May 2072

6 Vacant Industrial Land No. P.T. 1585, 2,007 Freehold 3 Mar 1995 172,825
Mukim Krubong, Melaka.

7 2 units of 3-Storey Shop No. 7, 7A & 7B and 286 Leasehold 19 Oct 1992 558,753
Offce with a total built up No. 9. 9A & 9B, (99 years) (No. 7, 7A & 7B)
area of approximately 662.21 Jalan Melaka Raya 11, expiring on 21 Oct 1992
square metres. The age of Taman Melaka Raya, 7 July 2093 (No. 9, 9A & 9B)
the buildings are 75000 Melaka.

75
LIST OF
PROPERTIES
No. Description, Existing Use, Location Land Area Tenure Date of Net Book
Age of Building and Built (Square Acquisition Value as at
Up Area Metres) 31.03.2010
(RM)

8 Double Storey Shophouse No. 47, Jalan Puncak 2, 130 Freehold 9 Aug 1999 137,464
with a built up area of Taman Puncak Bukit Katil,
approximately 71.54 75450 Melaka.
square metres. The age
of the buildings are
(2)

9 Vacant Land
(3)
Lot No. 6148, 1,077 Freehold 4 Dec 1999 173,895
Mukim Bukit Katil,
Daerah Melaka Tengah,
Negeri Melaka.

10 Vacant Land
(4)
Lot No. 6096, 2,157 Freehold 4 Dec 1999 238,576
Mukim Bukit Katil,
Daerah Melaka Tengah,
Negeri Melaka.

11 Semi detached factory No. 20, Jalan TPP 1/1A, 1,407 Freehold 10 Jul 2002 1,476,455
with a built up area of Taman Industri Puchong,
approximately 478 Batu 12, Jalan Puchong,
square metres. The 47100 Puchong, Selangor
age of the building is
(5)

12 Vacant Land
(6) & (6A)
No. PT 19503, 21,020 Leasehold 3 Apr 2006 6,636,042
Mukim Bukit Katil, (99 years)
Daerah Melaka expiring on
Tengah Melaka 13 May 2108
(6B)

Notes:
(1)
The acquisition of this property was completed on 15 January 2001.
(2)
The acquisition of this property was completed on 29 December 1999 and subsequently disposed off to Melaka Indians Education,
Economic, Welfare and Cultural development Association (MINDA) via a Sales and Purchase Agreement signed between the
Purchaser and OFI on 22 December 2009. The date of completion of the transaction was in April 2010.
(3)
The acquisition of this property was completed on 6 December 2000.
(4)
The acquisition of this property was completed on 19 October 2000.
(5)
The acquisition of this property was completed on 6 September 2004.
(6)
The acquisition of this property was completed on 10 October 2006.
(6A)
On 15 December 2008, a Sale and Purchase Agreement (the SPA) was entered between OFI Properties Sdn Bhd (OFIP) with
SPM Restaurants Sdn Bhd for the disposal of leasehold vacant land measuring approximately 3,981 square metres (42,851 square
feet) (currently known as No. PT 19502, Mukim Bukit Katil, Daerah Melaka Tengah, Melaka) which form part of Lot. No. 4260,
Mukim Bukit Katil, Melaka Tengah, Melaka (the Property) (currently known as No. PT 19503, Mukim Bukit Katil, Daerah Melaka
Tengah, Melaka) for a cash consideration of RM3,128,123.00.
(6B)
On 14 May 2009 OFIH obtained the issuance of the separate individual title for the Property under commercial category of land use
with tenure of 99 years expiring 13 May 2108.
All the above properties (except for properties nos. 6 to 10 and 12) were revalued by Messrs C. H. Williams Talhar & Wong In
February 2009.
76
ANNUAL REPORT 2010
OTHER
INFORMATION
Recurrent Related Parties Transactions
Pursuant to a Shareholders Mandate obtained on 26
August 2009, the Company and its subsidiaries have
carried out recurrent related party transactions for a
total value of RM4,129,816 from the effective date of
Shareholders Mandate until the date of this Annual Report.
The Company is seeking a renewal of the Shareholders
Mandate for the Company and/or its subsidiaries to enter
into a Recurrent Related Party Transactions with Related
Parties under the Special Business in the forthcoming
AGM.
Share Buyback
The Company did not make any share buyback during the
fnancial year.
Options, Warrants or Convertible Securities
No options, warrants or convertible securities were
exercised by the Company in the fnancial year.
American Depository Receipt (ADR) or Global
Depository Receipt (GDR) Programme
During the fnancial year, the Company did not sponsor
any ADR or GDR programme.
Imposition of Sanctions/Penalties
There were no public sanctions and/or penalties imposed
on the Company and its subsidiaries, Directors or
management by the regulatory bodies.
Non-audit Fees
The amount of non-audit fees paid and payable to the
external auditors by the Group for the fnancial year ended
31 March 2010 was RM11,050.00.
Contracts Relating to Loans
There were no contracts relating to loans by the Company
in respect of the material contracts involving Directors and
major shareholders.
Material Contracts
Except for the following Agreement, neither OFIH nor its
subsidiary companies has entered into any other contract
which are or may be material during the two (2) years
preceding the date of this Annual Report, other than
contract entered into the ordinary course of business:
Sales and Purchase Agreement dated 22 December
2009 between Oriental Food Industries Sdn Bhd
(Company No. 38289-A) (the Vendor) and Melaka
Indians Education, Economic, Welfare and Cultural
Development Association (MINDA) (the Purchaser)
for the purchase of all that piece of land situated
in the Mukim Bukit Katil, Daerah Melaka Tengah,
Melaka, marked as No. Lot 5921 containing an area
of 130 square metres comprised in and held under
Geran No. Pendaftaran 18282 together with a double
storey terrace shophouse erected thereon and
known as No. 47, Taman Puncak 2, Taman Puncak
Bukit Katil, 75450 Melaka for a cash consideration of
RM140,000.00.
Sales and Purchase Agreement dated 15 December
2008 between OFI Properties Sdn Bhd (Company
No. 701435-K) (the Vendor) and SPM Restaurants
Sdn Bhd (the Purchaser) for the disposal of a piece
of leasehold vacant land measuring approximately
3,981 square metres which form part of Lot 4260,
Mukim Bukit Katil, Melaka Tengah, Melaka for a cash
consideration of RM3,128,123.00.
Material Contracts Involving Directors And Substantial
Shareholders Interests
Since the end of the previous fnancial year, the Company
and its subsidiaries have not entered into any material
contract involving directors and substantial shareholders.
Revaluation of Landed Properties
The Group has adopted the policy of regular revaluation
on the Groups landed properties. The details of the
revaluation are stated in Note 2(c) and 11 of the fnancial
statements.
FORM OF PROXY
ORIENTAL FOOD INDUSTRIES HOLDINGS BERHAD
(Company No : 389769-M)
(Incorporated in Malaysia)
I/We
(Full Name in Capital Letters)
of
(Full address)
being a Member/Members of ORIENTAL FOOD INDUSTRIES HOLDINGS BERHAD hereby appoint * the Chairman of the meeting or
of
(Full address)
or failing him/her
of
(Full address)
as * my/our proxy/proxies to attend and vote for *me/us and on *my/our behalf at the 14th Annual General Meeting of the Company, to
be held at Tiara Banquet Hall, Tiara Melaka Golf and Country Club, Jalan Gapam, Bukit Katil, 75760 Melaka on Wednesday, 18 August
2010 at 2.00 p.m. and, at every adjournment thereof to vote as indicated below :
No. of ordinary shares held
Notes :
1. A member entitled to attend and vote at the above meeting is
entitled to appoint a proxy to attend and vote in his stead. A proxy
may but need not be a member of the Company. Section 149(1)(b)
of the Companies Act, 1965 shall not apply.
2. A member may appoint more than two (2) proxies to attend at the
same meeting. Where a member appoints two (2) or more proxies,
the proxies shall not be valid unless the member specifes the
proportion of his shareholdings to be represented by each proxy.
(Please indicate with an X in the space provided above on how you wish your vote to be cast. If you do not do so, the proxy will vote
or abstain from voting at this discretion.)
The proportion of my holdings to be represented by my *proxy/proxies are as follows :-
First name Proxy %
Second name Proxy %
100%
In case of a vote taken by a show of hands, the First Proxy shall vote on *my/our behalf. *Strike out whichever is not desired.
As witness my hand day of 2010.
Signature
3. The instrument appointing a proxy in the case of an individual
shall be signed by the appointor or his attorney and in the case
of a corporation, the instrument appointing a proxy or proxies
must be under seal or under the hand of an offcer or attorney duly
authorised.
4. The instrument appointing a proxy shall be deemed to confer
authority to demand or join in demanding a poll.
5. The instrument appointing a proxy must be deposited a the
Registered Offce at Level 8, Symphony House, Block D13, Pusat
Dagangan Dana 1, Jalan PJU 1A/46, 47301 Petaling Jaya, Selangor
Darul Ehsan at least forty-eight (48) hours before the time approved
for holding the meeting or any adjournment thereof.
For Against
Resolution 1 To receive and adopt the statutory fnancial statements for the year ended 31 March
2010 together with the Directors and Auditors Reports thereon.
Resolution 2 To declare the following fnal dividends for the year ended 31 March 2010 :
(a) Tax exempt dividend of RM0.02 per share amounting to RM1,200,000 on
60,000,000 ordinary shares of RM1.00 each ; and
(b) Franked dividend of RM0.02 per share less 25% tax at a total net amount of
RM900,000 on 60,000,000 ordinary shares of RM1.00 each.
Resolution 3 To approve the payment of directors fees of RM200,000/- for the year ended 31
March 2010.
Resolution 4 To re-elect Mr Son Chen Chuan who retires in accordance with Article 75 of the
Resolution 5 To re-elect Mr Son Tong Eng who retires in accordance with Article 75 of the
Resolution 6 To re-elect Datuk Jeffery Ong Cheng Lock who retires in accordance with Article 75
of the Companys Articles of Association.
Resolution 7 To re-appoint Messrs PricewaterhouseCoopers as auditors for the ensuing year and
to authorise the Directors to fx their remuneration.
Special Business
Resolution 8 To authorise the Directors to issue shares pursuant to Section 132D of the
Companies Act, 1965.
Resolution 9 To approve the Proposed Renewal of Shareholders Mandate for Recurrent Related
Party Transactions of a revenue or trading nature with Syarikat Perniagaan Chong
Mah Sdn Bhd.
AFFIX
STAMP
HERE
THE COMPANY SECRETARY
Jalan PJU1A/46
47301 Petaling Jaya
Malaysia
Fold this fap for sealing
Fold this fap for sealing
Annual Report
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Jalan PJU1A/46
47301 Petaling Jaya
Tel : +603 7841 8000
Fax : +603 7841 8199
www.ofh.com.my
www.jacker.com.my

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